Graham (NYSE:GHM) Hits New 12-Month High - Time to Buy?

Graham Corporation (NYSE:GHM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.53 and last traded at $52.51, with a volume of 130720 shares trading hands. The stock had previously closed at $52.68.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GHM shares. Northland Securities started coverage on Graham in a report on Monday, June 23rd. They issued an "outperform" rating and a $55.00 target price on the stock. Maxim Group raised Graham to a "buy" rating and set a $65.00 price objective on the stock in a report on Wednesday, July 2nd. Finally, Northland Capmk raised Graham to a "strong-buy" rating in a report on Monday, June 23rd.

Graham Stock Down 1.3%

The stock has a fifty day moving average of $43.32 and a two-hundred day moving average of $38.61. The stock has a market cap of $555.92 million, a price-to-earnings ratio of 45.74 and a beta of 0.90.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GHM. New York State Teachers Retirement System increased its position in Graham by 839.0% during the 1st quarter. New York State Teachers Retirement System now owns 939 shares of the industrial products company's stock worth $27,000 after purchasing an additional 839 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Graham in the 1st quarter valued at about $29,000. Meeder Asset Management Inc. acquired a new position in Graham during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp acquired a new position in Graham during the 4th quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. lifted its position in Graham by 18,025.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,450 shares of the industrial products company's stock worth $64,000 after acquiring an additional 1,442 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company's stock.

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.