Graham (NYSE:GHM) Stock Picked Up by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Graham with an “overweight” rating and a $120 price target, implying 38.25% upside from the prior close.
• Analyst sentiment is generally positive: Graham has a consensus “Moderate Buy” rating and an average price target of $128.33, despite some hold-ratings from other firms.
• Graham recently exceeded quarterly expectations, reporting $0.49 in EPS versus $0.27 expected and revenue of $71.34 million, up 28.6% year over year; institutional investors own 69.46% of its shares.

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Graham (NYSE:GHM - Get Free Report) in a report released on Friday, Briefing.com reports. The firm set an "overweight" rating and a $120.00 price target on the industrial products company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 38.25% from the stock's previous close.

Other analysts have also issued reports about the company. Zacks Research lowered Graham from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 10th. Wall Street Zen raised Graham from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Oppenheimer boosted their price target on Graham to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Northland Securities upped their price target on Graham from $111.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings upgraded Graham from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, September 16th. Three equities research 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.33.

Graham Stock Up 0.6%

Shares of GHM stock opened at $86.80 on Friday. Graham has a fifty-two week low of $52.57 and a fifty-two week high of $125.82. The stock has a market cap of $1.02 billion, a P/E ratio of 83.46 and a beta of 1.08. The business has a fifty day simple moving average of $94.54 and a 200-day simple moving average of $97.22.

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

Institutional Trading of Graham

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Graham during the second quarter worth $110,235,000. William Blair Investment Management LLC acquired a new stake in Graham during the 2nd quarter valued at $45,159,000. Bank of New York Mellon Corp acquired a new stake in Graham during the 2nd quarter valued at $31,920,000. Agman Capital LLC purchased a new stake in Graham during the 4th quarter worth $14,079,000. Finally, De Lisle Partners LLP acquired a new position in Graham in the 2nd quarter worth $11,141,000. Institutional investors and hedge funds own 69.46% of the company's stock.

About Graham

Graham Corporation NYSE: GHM designs and manufactures engineered vacuum and heat-transfer equipment for industrial, defense and aerospace applications. Its products include ejectors, vacuum systems, surface condensers, heat exchangers, feedwater heaters and other specialized thermal-management equipment.

The company serves customers in the U.S. Navy and other defense markets, as well as power generation, chemical processing, refining and related industries. Graham's equipment is used in applications that require steam, heat transfer, condensation or controlled vacuum conditions, including marine propulsion and industrial process systems.

Founded in 1936 and headquartered in Batavia, New York, Graham has historically supplied equipment to customers in the United States and international markets.

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