Graham (NYSE:GHM) Now Covered by Oppenheimer

Key Points

• Oppenheimer initiated coverage with an "outperform" rating and a $100 price target, implying roughly a 22.6% upside from the prior close.
• Graham beat quarterly expectations, reporting $0.31 EPS versus $0.17 expected and $56.7M revenue, with a 6.28% net margin and 13.26% return on equity; analysts forecast $1.07 EPS for the fiscal year.
• The stock carries a consensus "Moderate Buy" from analysts with an average target of $81.67, trades near $81.57 with a $903M market cap and a P/E of about 60.4, and is ~69.5% institutionally owned.

Equities research analysts at Oppenheimer started coverage on shares of Graham (NYSE:GHM - Get Free Report) in a report issued on Wednesday. The brokerage set an "outperform" rating and a $100.00 price target on the industrial products company's stock. Oppenheimer's price objective suggests a potential upside of 22.59% from the company's previous close.

A number of other research firms have also recently weighed in on GHM. Weiss Ratings cut Graham from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, February 20th. Northland Securities upgraded shares of Graham from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 10th. 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.67.

Graham Price Performance

Graham stock opened at $81.57 on Wednesday. The firm has a 50 day simple moving average of $78.54 and a 200-day simple moving average of $65.52. Graham has a 1-year low of $24.78 and a 1-year high of $91.91. The stock has a market cap of $903.00 million, a price-to-earnings ratio of 60.42 and a beta of 0.90.

Graham (NYSE:GHM - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The firm had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.36 million. Graham had a net margin of 6.28% and a return on equity of 13.26%. Equities analysts expect that Graham will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.