Graham (NYSE:GHM) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Graham Corporation (NYSE:GHM)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $66.86 and traded as high as $88.42. Graham shares last traded at $85.4850, with a volume of 111,193 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GHM shares. Oppenheimer started coverage on shares of Graham in a research note on Wednesday, March 18th. They set an “outperform” rating and a $100.00 price objective on the stock. Northland Securities raised shares of Graham from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings downgraded shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.67.

Graham Stock Up 0.7%

The stock has a market capitalization of $946.58 million, a P/E ratio of 63.32 and a beta of 0.90. The firm’s 50-day simple moving average is $80.03 and its 200 day simple moving average is $66.86.

Graham (NYSE:GHM) last announced its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. Graham had a net margin of 6.28% and a return on equity of 13.26%. The company had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $52.36 million. As a group, equities analysts anticipate that Graham Corporation will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Graham

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in shares of Graham in the 3rd quarter worth $28,000. State of Alaska Department of Revenue purchased a new stake in shares of Graham during the third quarter valued at $33,000. BNP Paribas Financial Markets boosted its position in shares of 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 purchasing an additional 410 shares during the period. Comerica Bank increased its stake in Graham by 396.2% in the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 840 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Graham in the 3rd quarter worth about $71,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.