Graham (NYSE:GHM) Hits New 52-Week High – Should You Buy?

Graham Corporation (NYSE:GHM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.22 and last traded at $64.2150, with a volume of 43143 shares changing hands. The stock had previously closed at $61.97.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research lowered shares of Graham from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Noble Financial lowered shares of Graham from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings raised shares of Graham from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Graham presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Graham Price Performance

The business has a 50-day moving average of $55.05 and a two-hundred day moving average of $48.43. The company has a market cap of $704.77 million, a P/E ratio of 50.96 and a beta of 0.97.

Graham (NYSE:GHM) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.20. The business had revenue of $55.49 million during the quarter, compared to analysts’ expectations of $55.53 million. Graham had a return on equity of 12.83% and a net margin of 6.43%. Equities analysts anticipate that Graham Corporation will post 1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GHM. New York State Teachers Retirement System raised its holdings in shares of Graham by 839.0% in the first quarter. New York State Teachers Retirement System now owns 939 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 839 shares during the last quarter. Blue Trust Inc. bought a new position in Graham in the 3rd quarter worth approximately $28,000. State of Alaska Department of Revenue acquired a new stake in shares of Graham during the 3rd quarter valued at $33,000. BNP Paribas Financial Markets raised its holdings in shares of Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 410 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Graham by 130.5% during the second quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company’s stock worth $58,000 after buying an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Graham Company Profile

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 comprising pumps, blowers, and drive electronics for defense sector.