Graham (NYSE:GHM) Stock Gets Price Target Cut from Oppenheimer

Graham (NYSE:GHM) had its price objective decreased by Oppenheimer from $130.00 to $115.00 in a report issued on Thursday, Marketbeat Ratings reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

GHM has been the subject of several other reports. Northland Securities increased their price objective on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. began coverage on Graham in a research note on Friday, October 2nd. They issued an “overweight” rating and a $120.00 target price on the stock. Weiss Ratings lowered Graham from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Graham Stock Performance

Graham stock opened at $82.23 on Thursday. The firm has a market cap of $965.44 million, a PE ratio of 79.07 and a beta of 1.08. The firm’s 50 day moving average price is $93.20 and its two-hundred day moving average price is $97.32. Graham has a twelve month low of $52.57 and a twelve month high of $125.82.

Graham (NYSE:GHM) last issued its earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Graham had a net margin of 4.53% and a return on equity of 11.09%. The company had revenue of $71.34 million during the quarter, compared to analyst estimates of $65.60 million. During the same quarter last year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities analysts anticipate that Graham will post 1.87 EPS for the current fiscal year.

Institutional Trading of Graham

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ausbil Investment Management Ltd boosted its stake in shares of Graham by 64.7% during the 3rd quarter. Ausbil Investment Management Ltd now owns 8,484 shares of the industrial products company’s stock worth $732,000 after acquiring an additional 3,332 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Graham during the 2nd quarter worth $4,475,000. Arizona State Retirement System acquired a new position in Graham in the 2nd quarter valued at $350,000. Corient Private Wealth LP grew its stake in Graham by 9.5% in the 2nd 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 during the last quarter. Finally, Angeles Wealth Management LLC bought a new position in Graham in the 2nd quarter worth $249,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Graham Company Profile

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.