Graham (NYSE:GHM) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Graham Corporation’s stock moved above its 200-day moving average on Friday, trading as high as $111.44 and last changing hands at about $108.29.
• The company recently beat quarterly earnings and revenue estimates, reporting EPS of $0.33 versus $0.30 expected and revenue of $67.08 million, up 13% from a year earlier.
• Wall Street sentiment is mixed, with a consensus Hold rating and an average price target of $132.50, while institutional ownership remains high at 69.46%.

Graham Corporation (NYSE:GHM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $90.10 and traded as high as $111.44. Graham shares last traded at $108.2850, with a volume of 1,010,990 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Graham from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, June 9th. Wall Street Zen cut Graham from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Zacks Research downgraded shares of Graham from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 10th. Oppenheimer lifted their target price on shares of Graham to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Finally, Northland Securities boosted their target price on shares of Graham from $111.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $132.50.

Graham Price Performance

The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 95.83 and a beta of 1.01. The stock's 50-day simple moving average is $105.90 and its two-hundred day simple moving average is $90.10.

Graham (NYSE:GHM - Get Free Report) last announced its earnings results on Monday, June 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $59.95 million. Graham had a net margin of 5.10% and a return on equity of 11.94%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. Equities research analysts predict that Graham Corporation will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Graham

Several large investors have recently bought and sold shares of GHM. Auto Owners Insurance Co lifted its position in shares of Graham by 6,323.0% in the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company's stock valued at $4,538,000 after acquiring an additional 695,530 shares in the last quarter. Vanguard Group Inc. raised its stake in Graham by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company's stock valued at $33,074,000 after purchasing an additional 12,974 shares during the last quarter. Royce & Associates LP raised its stake in Graham by 2.7% in the 4th quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company's stock valued at $30,330,000 after purchasing an additional 12,509 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Graham by 6.1% in the 2nd quarter. Wasatch Advisors LP now owns 316,203 shares of the industrial products company's stock valued at $15,655,000 after purchasing an additional 18,084 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Graham by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 298,020 shares of the industrial products company's stock valued at $19,142,000 after purchasing an additional 24,005 shares in the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Graham Company Profile

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.

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