Graham (NYSE:GHM) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Graham Corporation (NYSE:GHM - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $38.80 and traded as high as $52.66. Graham shares last traded at $51.93, with a volume of 89,030 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in 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 target for the company. Northland Capmk raised shares of Graham to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Maxim Group raised shares of Graham to a "buy" rating and set a $65.00 price target for the company in a research note on Wednesday, July 2nd.

Graham Stock Performance

The company has a market cap of $602.47 million, a PE ratio of 49.43 and a beta of 0.90. The firm's 50 day moving average is $46.71 and its 200-day moving average is $39.18.

Graham (NYSE:GHM - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The industrial products company reported $0.43 earnings per share for the quarter, beating 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 business had revenue of $59.35 million during the quarter, compared to analysts' expectations of $55.67 million. On average, analysts predict that Graham Corporation will post 1.07 EPS for the current year.

Institutional Trading of Graham

Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Graham in the fourth quarter valued at approximately $31,000. New York State Teachers Retirement System grew 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 purchasing an additional 839 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Graham in the first quarter valued at approximately $29,000. Russell Investments Group Ltd. grew 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 purchasing an additional 1,442 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Graham by 26.0% in the fourth quarter. Legal & General Group Plc now owns 2,599 shares of the industrial products company's stock worth $116,000 after acquiring an additional 536 shares in the last quarter. Institutional investors and hedge funds 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.