Graham (NYSE:GHM) Sets New 1-Year High - Time to Buy?

Key Points

• Graham Corporation shares reached a new 52-week high of $55.76 during trading, closing at $55.57 with a volume of 76,513 shares traded.
• Wall Street analysts have raised their ratings for Graham, with Maxim Group setting a $65.00 price target and Northland Securities giving it a rating of "outperform".
• The company reported earnings of $0.43 per share for the last quarter, exceeding analyst estimates of $0.26, and had a revenue of $59.35 million against an expectation of $55.67 million.

Graham Corporation (NYSE:GHM - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $55.76 and last traded at $55.57, with a volume of 76513 shares. The stock had previously closed at $54.92.

Analyst Ratings Changes

Several research firms have recently commented on GHM. Northland Securities began coverage on shares of Graham in a research note on Monday, June 23rd. They set an "outperform" rating and a $55.00 price objective for the company. Northland Capmk upgraded shares of Graham to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Maxim Group upgraded shares of Graham to a "buy" rating and set a $65.00 price objective for the company in a research note on Wednesday, July 2nd.

Graham Price Performance

The company's fifty day moving average is $48.20 and its 200-day moving average is $39.55. The stock has a market cap of $608.79 million, a PE ratio of 49.95 and a beta of 0.90.

Graham (NYSE:GHM - Get Free Report) last issued its earnings results on Monday, June 9th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.17. Graham had a net margin of 5.83% and a return on equity of 12.07%. The firm had revenue of $59.35 million during the quarter, compared to analysts' expectations of $55.67 million. Analysts expect that Graham Corporation will post 1.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in Graham in the fourth quarter valued at $31,000. New York State Teachers Retirement System increased its holdings in Graham by 839.0% in the first quarter. New York State Teachers Retirement System now owns 939 shares of the industrial products company's stock valued at $27,000 after buying an additional 839 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Graham in the first quarter valued at $29,000. Russell Investments Group Ltd. increased its holdings in Graham by 18,025.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,450 shares of the industrial products company's stock valued at $64,000 after buying an additional 1,442 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Graham by 26.0% in the fourth quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company's stock valued at $116,000 after buying an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

About Graham

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.