Graham (NYSE:GHM) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Graham (NYSE:GHM) had its target price decreased by JPMorgan Chase & Co. from $120.00 to $100.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also commented on GHM. Wall Street Zen raised shares of Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Oppenheimer lowered their price objective on shares of Graham from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, October 8th. Finally, William Blair initiated coverage on Graham in a report on Monday. They set an “outperform” rating for the company. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.67.

Graham Price Performance

NYSE GHM opened at $77.90 on Friday. Graham has a 12 month low of $52.57 and a 12 month high of $125.82. The company has a 50-day moving average of $80.15 and a 200-day moving average of $91.09. The company has a market cap of $914.51 million, a P/E ratio of 67.74 and a beta of 1.16.

Graham (NYSE:GHM) last announced its quarterly earnings data on Thursday, November 5th. The industrial products company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.18. Graham had a net margin of 5.05% and a return on equity of 11.56%. The business had revenue of $69.76 million for the quarter, compared to analyst estimates of $71.07 million. As a group, equities research analysts anticipate that Graham will post 1.90 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GHM. Westport Asset Management Inc. acquired a new position in shares of Graham during the second quarter worth about $171,000. Corient Private Wealth LP grew its stake in shares of Graham by 9.5% in the second quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company’s stock valued at $354,000 after buying an additional 249 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Graham during the 2nd quarter valued at about $52,000. Wasatch Advisors LP raised its holdings in shares of Graham by 0.8% during the 2nd quarter. Wasatch Advisors LP now owns 85,103 shares of the industrial products company’s stock valued at $10,535,000 after buying an additional 659 shares during the period. Finally, Silvant Capital Management LLC purchased a new stake in shares of Graham during the 2nd quarter valued at about $101,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Graham Company Profile

Graham Corporation (NYSE: GHM) is a U.S.-based designer and manufacturer of engineered equipment and systems for the defense, space, and commercial markets. The company develops thermal-management, fluid-handling, vacuum, and power-generation technologies used in demanding industrial and government applications.

Graham supplies equipment for naval vessels, including surface ships and submarines, as well as systems supporting aerospace and space programs. Its products and capabilities include condensers, heat exchangers, vacuum equipment, steam and gas ejectors, cryogenic systems, and integrated propulsion and power solutions.