Zacks: Graham Co. (NYSE:GHM) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Graham Co. (NYSE:GHM) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus target price of $27.00 for the company and are anticipating that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Graham an industry rank of 162 out of 256 based on the ratings given to related companies.

A number of research firms have recently weighed in on GHM. ValuEngine downgraded shares of Graham from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Maxim Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Graham in a research report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Graham from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, August 7th.

Graham stock traded down $0.01 during mid-day trading on Thursday, reaching $18.75. 16,695 shares of the company traded hands, compared to its average volume of 19,127. The firm’s 50 day moving average price is $20.13 and its 200 day moving average price is $20.70. The firm has a market capitalization of $191.39 million, a price-to-earnings ratio of 36.76 and a beta of 0.76. Graham has a 52-week low of $18.60 and a 52-week high of $28.73.

Graham (NYSE:GHM) last released its earnings results on Friday, July 26th. The industrial products company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.05. The firm had revenue of $20.59 million for the quarter, compared to the consensus estimate of $19.19 million. Graham had a negative net margin of 3.08% and a positive return on equity of 3.61%. As a group, analysts anticipate that Graham will post 0.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.35%. This is an increase from Graham’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, August 20th. Graham’s dividend payout ratio is 78.43%.

A number of institutional investors and hedge funds have recently bought and sold shares of GHM. BNP Paribas Arbitrage SA lifted its stake in Graham by 589.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,006 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 1,715 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in Graham by 368.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,389 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 2,665 shares during the period. Bank of America Corp DE lifted its stake in Graham by 41.3% during the 4th quarter. Bank of America Corp DE now owns 8,913 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 2,603 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Graham during the 1st quarter valued at about $213,000. Finally, Walthausen & Co. LLC lifted its stake in Graham by 6.4% during the 1st quarter. Walthausen & Co. LLC now owns 53,260 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 3,190 shares during the period. Institutional investors and hedge funds own 75.17% of the company’s stock.

About Graham

Graham Corporation, together with its subsidiaries, designs, manufactures, and supplies vacuum and heat transfer equipment for the chemical, defense, petrochemical, petroleum refining, electric power generation, and other industries worldwide. It offers heat transfer equipment, including surface condensers, heliflows, water heaters, and various types of heat exchangers, as well as custom-engineered ejectors; and vacuum equipment, such as steam jet ejector vacuum systems and liquid ring vacuum pumps.

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