Oppenheimer Issues Pessimistic Forecast for Graham (NYSE:GHM) Stock Price

Key Points

• Oppenheimer cut Graham’s price target from $130 to $115 while maintaining an “outperform” rating, implying approximately 36% upside from the stock’s $84.36 opening price.
• Analyst sentiment remains positive overall, with Graham holding a “Moderate Buy” consensus rating and an average price target of $123.33, despite several recent hold-rating changes.
• Graham reported quarterly EPS of $0.49, beating the $0.27 consensus estimate, while revenue rose 28.6% year over year to $71.34 million; institutional investors own 69.46% of the company.

Graham (NYSE:GHM - Get Free Report) had its price target cut by equities researchers at Oppenheimer from $130.00 to $115.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price objective points to a potential upside of 36.32% from the company's current price.

A number of other equities analysts have also recently commented on GHM. Wall Street Zen raised shares of Graham from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Northland Securities boosted their price target on Graham from $111.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. started coverage on Graham in a report on Friday, October 2nd. They set an "overweight" rating and a $120.00 price target for the company. Zacks Research lowered Graham from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 10th. Finally, Weiss Ratings cut Graham from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.33.

Graham Stock Performance

Shares of Graham stock opened at $84.36 on Thursday. The firm has a market capitalization of $990.41 million, a price-to-earnings ratio of 81.12 and a beta of 1.08. Graham has a fifty-two week low of $52.57 and a fifty-two week high of $125.82. The stock has a 50 day moving average of $93.73 and a 200 day moving average of $97.42.

Graham (NYSE:GHM - Get Free Report) last released its quarterly 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. The business had revenue of $71.34 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. Analysts forecast that Graham will post 1.87 EPS for the current year.

Institutional Investors Weigh In On Graham

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Graham in the second quarter valued at approximately $110,235,000. William Blair Investment Management LLC purchased a new stake in shares of Graham during the 2nd quarter worth about $45,159,000. Bank of New York Mellon Corp acquired a new stake in Graham during the 2nd quarter worth approximately $31,920,000. Agman Capital LLC purchased a new position in Graham in the fourth quarter valued at approximately $14,079,000. Finally, De Lisle Partners LLP acquired a new position in Graham during the second quarter valued at approximately $11,141,000. Hedge funds and other institutional investors 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.

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