Graham (NYSE:GHM) Reaches New 1-Year High – Should You Buy?

Shares of Graham Corporation (NYSE:GHM) reached a new 52-week high during trading on Wednesday . The stock traded as high as $101.72 and last traded at $98.8150, with a volume of 9033 shares changing hands. The stock had previously closed at $99.12.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GHM. Oppenheimer started coverage on Graham in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $100.00 price objective for the company. Zacks Research upgraded Graham from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. Northland Securities upgraded Graham from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings downgraded Graham from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Graham Price Performance

The business has a 50 day simple moving average of $88.54 and a 200 day simple moving average of $75.52. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 72.89 and a beta of 1.05.

Hedge Funds Weigh In On Graham

Several institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Graham during the third quarter worth about $33,000. BNP Paribas Financial Markets increased its stake in Graham by 62.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after buying an additional 410 shares during the period. Comerica Bank increased its stake in Graham by 396.2% during the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock worth $58,000 after buying an additional 840 shares during the period. Fifth Third Bancorp acquired a new stake in Graham during the 1st quarter worth approximately $69,000. Finally, Covestor Ltd lifted its holdings in Graham by 4,697.4% during the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,832 shares in the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

About Graham

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.