Graham (NYSE:GHM) Raised to Buy at Maxim Group

Maxim Group upgraded shares of Graham (NYSE:GHM) to a buy rating in a report issued on Wednesday, Marketbeat reports. The brokerage currently has $65.00 price target on the industrial products company’s stock.

A number of other equities research analysts also recently issued reports on the company. Northland Securities started coverage on Graham in a research report on Monday, June 23rd. They set an “outperform” rating and a $55.00 price objective on the stock. Northland Capmk upgraded Graham to a “strong-buy” rating in a research report on Monday, June 23rd.

Graham Trading Up 6.4%

Shares of Graham stock opened at $53.97 on Wednesday. The stock has a 50 day moving average of $41.25 and a 200 day moving average of $38.28. Graham has a 12 month low of $24.78 and a 12 month high of $52.94. The firm has a market cap of $590.97 million, a PE ratio of 48.62 and a beta of 0.90.

Graham (NYSE:GHM) last issued its quarterly earnings data on Monday, June 9th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. Graham had a return on equity of 12.07% and a net margin of 5.83%. The business had revenue of $59.35 million for the quarter, compared to the consensus estimate of $55.67 million. As a group, equities research analysts forecast that Graham will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System raised its holdings in shares of 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 worth $27,000 after buying an additional 839 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Graham in the first quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Graham in the fourth quarter worth approximately $31,000. Jones Financial Companies Lllp purchased a new stake in shares of Graham in the fourth quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of 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 worth $64,000 after buying an additional 1,442 shares during the period. 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.