Graham (NYSE:GHM) Share Price Crosses Above 200 Day Moving Average of $28.30

Shares of Graham Co. (NYSE:GHM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.30 and traded as high as $31.87. Graham shares last traded at $31.84, with a volume of 31,500 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on GHM shares. StockNews.com lowered shares of Graham from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Noble Financial began coverage on Graham in a report on Monday, June 24th. They issued an “outperform” rating and a $35.00 target price for the company.

Graham Trading Up 1.6 %

The company has a market capitalization of $346.13 million, a PE ratio of 74.05 and a beta of 0.59. The stock’s fifty day moving average is $29.92 and its two-hundred day moving average is $28.30.

Graham (NYSE:GHM) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. Graham had a net margin of 2.60% and a return on equity of 5.26%. The firm had revenue of $49.95 million for the quarter, compared to analysts’ expectations of $50.00 million. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, analysts anticipate that Graham Co. will post 0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Graham

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