RBC Capital Increases Precision Castparts Corp. Price Target to $280.00 (PCP)
RBC Capital lifted their price target on shares of Precision Castparts Corp. (NYSE:PCP) from $260.00 to $280.00 in a research note issued on Tuesday, Stock Ratings Network reports. The firm currently has a “top pick” rating on the stock. RBC Capital’s target price would suggest a potential upside of 21.74% from the company’s current price.
PCP has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Precision Castparts Corp. (NYSE:PCP) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, August 22nd. They now have a $240.00 price target on the stock, down previously from $248.00. Separately, analysts at Barclays Capital upgraded shares of Precision Castparts Corp. (NYSE:PCP) to a “best ideas list” rating in a research note to investors on Monday, August 19th. Finally, analysts at Stifel Nicolaus raised their price target on shares of Precision Castparts Corp. (NYSE:PCP) from $235.00 to $260.00 in a research note to investors on Monday, August 12th. They now have a “buy” rating on the stock.
Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Precision Castparts Corp. currently has an average rating of “Buy” and an average price target of $250.56.
Precision Castparts Corp. (NYSE:PCP) traded up 0.60% on Tuesday, hitting $229.99. 803,023 shares of the company’s stock traded hands. Precision Castparts Corp. has a 52 week low of $159.93 and a 52 week high of $254.14. The stock’s 50-day moving average is $221.7 and its 200-day moving average is $211.1. The company has a market cap of $33.471 billion and a price-to-earnings ratio of 22.09.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, July 25th. The company reported $2.88 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.90 by $0.02. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the company posted $2.35 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts predict that Precision Castparts Corp. will post $12.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Wednesday, September 4th.
Precision Castparts Corp. (NYSE:PCP) is a manufacturer of metal components and products, provides investment castings, forgings and fasteners/fastener systems for critical aerospace and industrial gas turbine (IGT) applications.
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