Graham (NYSE:GHM) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Graham (NYSE:GHM) from a hold rating to a sell rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “Graham Corporation designs and builds vacuum and heat transfer equipment for process industries and energy markets worldwide. The Company’s products include steam jet ejector vacuum systems and liquid ring vacuum pumps, surface condensers, Heliflows, water heaters, and various types of heat exchangers. It markets to chemical, petrochemical, petroleum refining, and electric power generating industries, including cogeneration and geothermal plants. Graham Corporation is headquartered in Batavia, New York. “

A number of other brokerages also recently commented on GHM. ValuEngine upgraded Graham from a hold rating to a buy rating in a research report on Thursday, July 23rd. Maxim Group reiterated a buy rating and set a $17.00 price objective on shares of Graham in a research report on Thursday, June 11th.

Shares of NYSE:GHM traded up $0.48 during trading on Friday, reaching $13.16. The stock had a trading volume of 35,523 shares, compared to its average volume of 32,489. The business has a fifty day moving average price of $12.42 and a 200-day moving average price of $14.23. The stock has a market cap of $131.21 million, a PE ratio of -1,316,000.00 and a beta of 0.72. Graham has a 1-year low of $10.36 and a 1-year high of $23.77.

Graham (NYSE:GHM) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.04). The firm had revenue of $16.71 million during the quarter, compared to analyst estimates of $14.48 million. Graham had a negative return on equity of 0.03% and a negative net margin of 0.03%. Research analysts expect that Graham will post 0.18 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC lifted its position in Graham by 7.9% during the first quarter. ArrowMark Colorado Holdings LLC now owns 775,177 shares of the industrial products company’s stock worth $10,000,000 after buying an additional 56,691 shares in the last quarter. BlackRock Inc. raised its position in Graham by 3.5% in the first quarter. BlackRock Inc. now owns 714,789 shares of the industrial products company’s stock valued at $9,222,000 after purchasing an additional 24,250 shares during the period. Deprince Race & Zollo Inc. raised its position in Graham by 15.6% in the first quarter. Deprince Race & Zollo Inc. now owns 601,557 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 81,055 shares during the period. Geode Capital Management LLC raised its position in Graham by 7.9% in the first quarter. Geode Capital Management LLC now owns 128,451 shares of the industrial products company’s stock valued at $1,657,000 after purchasing an additional 9,432 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Graham by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 114,091 shares of the industrial products company’s stock valued at $1,471,000 after purchasing an additional 2,401 shares during the period. Hedge funds and other institutional investors own 77.32% of the company’s stock.

Graham Company Profile

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.

See Also: Systematic Risk

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