Graham (NYSE:GHM) Stock Price Down 11.1% – Here’s What Happened

Shares of Graham Corporation (NYSE:GHM) traded down 11.1% during trading on Wednesday . The stock traded as low as $89.58 and last traded at $88.7570. 136,881 shares were traded during trading, a decline of 25% from the average daily volume of 183,127 shares. The stock had previously closed at $99.82.

More Graham News

Here are the key news stories impacting Graham this week:

• Neutral Sentiment: News reports focused on tributes to Lindsey Graham and the political implications of his death, with no mention of Graham Corporation, its operations, contracts, earnings or outlook. Lindsey Graham’s Funeral Brings Congress, World Leaders Together
• Neutral Sentiment: Trump’s meetings with Netanyahu and Zelenskyy reportedly covered Iran, Ukraine and potential expansion of Ukraine’s Patriot missile production. Although defense-related developments may provide a broad sector theme, the articles do not indicate any contract or revenue impact for Graham Corporation. Trump, Zelenskyy discuss expanding Ukraine’s Patriot missile production
• Negative Sentiment: No direct negative news about Graham Corporation was provided. Accordingly, the stock’s decline cannot be attributed to these political articles based on the available information.

Analysts Set New Price Targets

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

Graham Price Performance

The firm has a market cap of $1.05 billion, a P/E ratio of 79.08 and a beta of 1.01. The stock’s 50-day moving average is $106.87 and its 200-day moving average is $92.14. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09.

Graham (NYSE:GHM) last issued its quarterly earnings results on Monday, June 8th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $67.08 million during the quarter, compared to the consensus estimate of $59.95 million. Graham had a net margin of 5.10% and a return on equity of 11.94%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities analysts anticipate that Graham Corporation will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Graham

Several hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Graham during the second quarter worth about $52,000. BNP Paribas Financial Markets raised its holdings in Graham by 62.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 410 shares in the last quarter. Comerica Bank raised its holdings in Graham by 396.2% in the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 840 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Graham in the 1st quarter worth approximately $69,000. Finally, Covestor Ltd lifted its position in shares of Graham by 4,697.4% in the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,832 shares during the period. Institutional investors own 69.46% of the company’s stock.

Graham Company Profile

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.