Graham (NYSE:GHM) Rating Lowered to Hold at StockNews.com

Graham (NYSE:GHM – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Separately, Noble Financial started coverage on Graham in a research note on Monday, June 24th. They set an “outperform” rating and a $35.00 price target for the company.

Read Our Latest Research Report on GHM

Graham Stock Performance

NYSE GHM opened at $29.33 on Friday. The company has a market capitalization of $318.85 million, a PE ratio of 68.21 and a beta of 0.59. Graham has a 52-week low of $14.78 and a 52-week high of $34.72. The company has a 50-day simple moving average of $29.59 and a 200-day simple moving average of $27.58.

Graham (NYSE:GHM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.15. Graham had a net margin of 2.46% and a return on equity of 4.45%. The company had revenue of $49.95 million during the quarter, compared to analyst estimates of $50.00 million. During the same quarter last year, the business posted $0.25 EPS. As a group, analysts forecast that Graham will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hillsdale Investment Management Inc. grew its holdings in Graham by 1,640.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock valued at $4,037,000 after buying an additional 139,472 shares in the last quarter. Atria Investments Inc purchased a new position in Graham during the first quarter valued at approximately $1,118,000. Acadian Asset Management LLC increased its holdings in Graham by 21.4% during the 2nd quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock worth $5,858,000 after acquiring an additional 36,724 shares during the period. Bank of New York Mellon Corp purchased a new stake in Graham in the 2nd quarter worth approximately $904,000. Finally, Wasatch Advisors LP boosted its holdings in Graham by 7.4% in the 1st quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock valued at $9,841,000 after purchasing an additional 24,961 shares during the period. 69.46% of the stock is owned by institutional investors.

Graham Company Profile

(Get Free Report)

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems including pumps, blowers, and drive electronics for the defense sector.

Further Reading

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