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

Key Points

• Graham Corporation's stock price surpassed its 200-day moving average of $39.98, trading as high as $50.51, and last recorded a price of $49.73 with a trading volume of 74,928 shares.
• Analysts have given positive ratings, with Maxim Group upgrading the stock to a "buy" with a target price of $65.00 and Northland Securities setting an "outperform" rating with a $55.00 target.
• The company reported stronger-than-expected quarterly earnings, posting $0.45 earnings per share, beating analyst estimates of $0.25, and had a revenue of $55.49 million for the quarter.

Graham Corporation (NYSE:GHM - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $39.98 and traded as high as $50.51. Graham shares last traded at $49.73, with a volume of 74,928 shares traded.

Analyst Upgrades and Downgrades

GHM has been the subject of several research reports. Northland Securities initiated coverage on shares of Graham in a research report on Monday, June 23rd. They issued an "outperform" rating and a $55.00 target price for the company. Maxim Group raised Graham to a "buy" rating and set a $65.00 price objective on the stock in a research note on Wednesday, July 2nd. Finally, Northland Capmk raised Graham to a "strong-buy" rating in a research note on Monday, June 23rd.

Graham Stock Up 1.1%

The stock's fifty day moving average price is $50.71 and its two-hundred day moving average price is $39.94. The company has a market capitalization of $551.66 million, a PE ratio of 39.87 and a beta of 0.92.

Graham (NYSE:GHM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.20. The company had revenue of $55.49 million during the quarter, compared to analyst estimates of $55.53 million. Graham had a net margin of 6.43% and a return on equity of 12.83%. On average, equities research analysts forecast that Graham Corporation will post 1.07 EPS for the current year.

Institutional Trading of Graham

Several institutional investors and hedge funds have recently bought and sold shares of GHM. Wasatch Advisors LP lifted its holdings in shares of Graham by 6.1% during the second 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 during the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $53,000 after acquiring an additional 410 shares during the last quarter. Raymond James Financial Inc. raised its stake in Graham by 17.2% during the 2nd quarter. Raymond James Financial Inc. now owns 21,289 shares of the industrial products company's stock valued at $1,054,000 after buying an additional 3,129 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Graham during the 2nd quarter valued at $198,000. Finally, Walleye Capital LLC purchased a new stake in Graham during the 2nd quarter valued at $783,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

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.