Graham (NYSE:GHM) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Graham (NYSE:GHM) in a report issued on Friday, Marketbeat reports. The brokerage issued an overweight rating and a $120.00 price target on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Northland Securities raised their price objective on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research cut Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Oppenheimer increased their price target on Graham to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $128.33.

Graham Price Performance

Shares of GHM opened at $91.35 on Friday. Graham has a 1 year low of $52.57 and a 1 year high of $125.82. The company has a 50 day simple moving average of $94.29 and a two-hundred day simple moving average of $97.29. The firm has a market cap of $1.07 billion, a P/E ratio of 87.83 and a beta of 1.08.

Graham (NYSE:GHM) last released its earnings results on Thursday, August 6th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. Graham had a net margin of 4.53% and a return on equity of 11.09%. The firm had revenue of $71.34 million for the quarter, compared to the consensus estimate of $65.60 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Graham will post 1.87 earnings per share for the current year.

Hedge Funds Weigh In On Graham

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nicholas Investment Partners LP purchased a new position in Graham in the fourth quarter worth about $1,888,000. William Blair Investment Management LLC purchased a new stake in Graham during the second quarter valued at approximately $45,159,000. BlackRock Inc. purchased a new stake in Graham during the second quarter valued at approximately $110,235,000. Bank of New York Mellon Corp bought a new stake in shares of Graham in the 2nd quarter valued at approximately $4,598,000. Finally, Quantbot Technologies LP bought a new stake in shares of Graham in the 2nd quarter valued at approximately $1,342,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

About Graham

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.