Graham (NYSE:GHM) Share Price Passes Above 200-Day Moving Average – Here’s Why

Graham Corporation (NYSE:GHM) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $90.10 and traded as high as $111.44. Graham shares last traded at $108.2850, with a volume of 1,010,990 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GHM. Weiss Ratings upgraded shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. Oppenheimer increased their price objective on shares of Graham to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Zacks Research lowered shares of Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Northland Securities upped their price target on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen cut Graham from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $132.50.

Graham Stock Up 0.1%

The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 95.83 and a beta of 1.01. The business has a 50-day moving average of $105.90 and a 200-day moving average of $90.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.68 and a current ratio of 1.00.

Graham (NYSE:GHM) last issued its quarterly earnings data on Monday, June 8th. The industrial products company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $67.08 million for the quarter, compared to analyst estimates of $59.95 million. Graham had a net margin of 5.10% and a return on equity of 11.94%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. On average, sell-side analysts expect that Graham Corporation will post 1.85 EPS for the current year.

Institutional Trading of Graham

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Graham by 40.6% during the 2nd quarter. Rhumbline Advisers now owns 14,755 shares of the industrial products company’s stock worth $731,000 after buying an additional 4,257 shares during the period. Quantbot Technologies LP purchased a new position in Graham in the 2nd quarter valued at approximately $325,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Graham in the second quarter worth $226,000. Invesco Ltd. increased its holdings in Graham by 1,396.0% during the 2nd quarter. Invesco Ltd. now owns 115,893 shares of the industrial products company’s stock worth $5,738,000 after purchasing an additional 108,146 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of Graham during the second quarter worth about $783,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

About Graham

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.