Graham (NYSE:GHM) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Graham (NYSE:GHM) from a buy rating to a hold rating in a research report report published on Friday morning.

Separately, Noble Financial assumed coverage on shares of Graham in a research report on Monday, June 24th. They set an outperform rating and a $35.00 target price for the company.

Graham Stock Performance

NYSE GHM opened at $29.33 on Friday. The company has a market capitalization of $318.85 million, a PE ratio of 68.21 and a beta of 0.59. Graham has a 52-week low of $14.78 and a 52-week high of $34.72. The company has a 50-day simple moving average of $29.59 and a 200 day simple moving average of $27.64.

Graham (NYSE:GHM) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.15. Graham had a net margin of 2.46% and a return on equity of 4.45%. The company had revenue of $49.95 million during the quarter, compared to analyst estimates of $50.00 million. During the same quarter last year, the business posted $0.25 EPS. As a group, analysts forecast that Graham will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new position in shares of Graham in the second quarter valued at approximately $31,000. nVerses Capital LLC purchased a new stake in Graham in the 2nd quarter worth approximately $37,000. Lazard Asset Management LLC boosted its holdings in Graham by 8,163.5% in the 1st quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 4,245 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Graham during the 4th quarter valued at $148,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Graham in the fourth quarter worth $161,000. Institutional investors own 69.46% of the company’s stock.

About Graham

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.