Graham (NYSE:GHM) Shares Down 5.7% - Here's Why

Key Points

• Graham shares fell 5.7% to about $82.25 in Tuesday trading, with volume down 88% from the average daily level.
• Analyst opinions remain mixed: two rate the stock a Buy and three rate it a Hold, producing a consensus Hold rating and average price target of $132.50.
• Graham recently exceeded quarterly expectations, reporting $0.49 in EPS versus $0.27 expected and $71.34 million in revenue, up 28.6% year over year. Institutional investors own 69.46% of the company, with several funds increasing or initiating positions.

Graham Corporation (NYSE:GHM - Get Free Report) dropped 5.7% on Tuesday . The company traded as low as $81.97 and last traded at $82.2520. Approximately 21,897 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 185,543 shares. The stock had previously closed at $87.21.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Zacks Research downgraded shares of Graham from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 10th. Oppenheimer upped their target price on Graham to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Wall Street Zen upgraded shares of Graham from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Northland Securities increased their price target on shares of Graham from $111.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings cut shares of Graham from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $132.50.

Graham Stock Down 4.7%

The stock has a fifty day moving average price of $106.37 and a two-hundred day moving average price of $96.73. The company has a market cap of $975.90 million, a price-to-earnings ratio of 80.20 and a beta of 1.04.

Graham (NYSE:GHM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $71.34 million for the quarter, compared to analyst estimates of $65.60 million. Graham had a return on equity of 11.09% and a net margin of 4.53%.The company's quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts predict that Graham Corporation will post 1.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP increased its position in shares of Graham by 9.5% during the second quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company's stock valued at $354,000 after buying an additional 249 shares during the period. California State Teachers Retirement System raised its stake in shares of Graham by 249,920.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,407,616 shares of the industrial products company's stock worth $174,249,000 after buying an additional 1,407,053 shares during the last quarter. Angeles Wealth Management LLC acquired a new stake in Graham in the 2nd quarter valued at $249,000. Concurrent Investment Advisors LLC bought a new stake in Graham in the second quarter worth about $558,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Graham during the second quarter worth about $336,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

About Graham

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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