Graham (NYSE:GHM) Downgraded by StockNews.com

StockNews.com downgraded shares of Graham (NYSE:GHM) from a buy rating to a hold rating in a report published on Friday morning.

Separately, Noble Financial started coverage on shares of Graham in a research report on Monday, June 24th. They issued an outperform rating and a $35.00 price target on the stock.

Graham Stock Performance

Shares of GHM stock opened at $29.33 on Friday. The stock has a fifty day moving average price of $29.59 and a 200 day moving average price of $27.64. The stock has a market cap of $318.85 million, a PE ratio of 68.21 and a beta of 0.59. Graham has a 1 year low of $14.78 and a 1 year high of $34.72.

Graham (NYSE:GHM) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.15. The business had revenue of $49.95 million during the quarter, compared to the consensus estimate of $50.00 million. Graham had a return on equity of 4.45% and a net margin of 2.46%. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, equities research analysts predict that Graham will post 0.81 earnings per share for the current year.

Institutional Trading of Graham

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. lifted its holdings in Graham by 1,640.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock valued at $4,037,000 after purchasing an additional 139,472 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Graham during the first quarter valued at approximately $1,118,000. Acadian Asset Management LLC boosted its position in Graham by 21.4% during the second quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock worth $5,858,000 after acquiring an additional 36,724 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Graham during the second quarter worth approximately $904,000. Finally, Wasatch Advisors LP grew its stake in Graham by 7.4% in the 1st quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock worth $9,841,000 after acquiring an additional 24,961 shares during the period. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Graham Company Profile

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.