Graham (NYSE:GHM) Shares Down 7.2% – Time to Sell?
by Michael Walen · The Markets DailyGraham Corporation (NYSE:GHM – Get Free Report) shares traded down 7.2% during mid-day trading on Wednesday. The stock traded as low as $72.94 and last traded at $71.98. 31,096 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 182,786 shares. The stock had previously closed at $77.58.
Analysts Set New Price Targets
Several research firms have recently commented on GHM. Northland Securities raised their price target on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Weiss Ratings downgraded Graham from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. began coverage on shares of Graham in a research report on Friday, October 2nd. They set an “overweight” rating and a $120.00 target price on the stock. Finally, Oppenheimer cut their price target on shares of Graham from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.
Read Our Latest Analysis on GHM
Graham Price Performance
The firm’s 50-day moving average price is $92.29 and its 200 day moving average price is $97.33. The firm has a market capitalization of $834.54 million, a price-to-earnings ratio of 68.25 and a beta of 1.08.
Graham (NYSE:GHM – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. Graham had a return on equity of 11.09% and a net margin of 4.53%. The firm had revenue of $71.34 million during the quarter, compared to the consensus estimate of $65.60 million. During the same period in the previous year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, analysts predict that Graham Corporation will post 1.87 earnings per share for the current fiscal year.
Institutional Trading of Graham
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GHM. BlackRock Inc. acquired a new position in Graham in the second quarter valued at $110,235,000. Auto Owners Insurance Co grew its position in Graham by 6,323.0% during the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock valued at $4,538,000 after acquiring an additional 695,530 shares during the period. William Blair Investment Management LLC acquired a new stake in Graham during the second quarter worth about $45,159,000. De Lisle Partners LLP acquired a new stake in Graham during the second quarter worth about $11,141,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Graham during the second quarter worth about $9,079,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.
Graham Company Profile
Graham Corporation (NYSE: GHM) designs and manufactures specialized equipment and systems for defense, aerospace, and energy markets. Its products include vacuum equipment, heat exchangers, condensers, ejectors, and related thermal-management systems used in demanding industrial and government applications.
The company serves the U.S. Navy and other government customers, as well as commercial clients in areas such as power generation and process industries. Graham also provides engineering, fabrication, testing, installation, and aftermarket support services for its equipment and systems.
Founded in 1936 and headquartered in Batavia, New York, Graham has expanded its capabilities through acquisitions, including Barber-Nichols, a Colorado-based engineering and manufacturing business focused on turbomachinery, propulsion, and power-conversion technologies.