Morgan Stanley Downgrades Johnson Controls to Underweight (JCI)
Johnson Controls (NYSE:JCI) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “underweight” rating in a research note issued to investors on Monday, Analyst Ratings.Net reports. They currently have a $40.00 target price on the stock, down from their previous target price of $45.00. Morgan Stanley’s price objective indicates a potential downside of 5.95% from the stock’s previous close.
The analysts wrote, “We moved JCI near the top of our rankings a year ago because we saw far more scenarios where JCI could win than lose. However, with execution back on track, a new CEO lobbying for change and the stock at $43, expectations into the analyst day may be too high.”
Shares of Johnson Controls (NYSE:JCI) traded down 2.75% on Monday, hitting $41.36. 649,586 shares of the company’s stock traded hands. Johnson Controls has a 52-week low of $24.75 and a 52-week high of $43.49. The stock’s 50-day moving average is $41.69 and its 200-day moving average is $37.73. The company has a market cap of $28.297 billion and a P/E ratio of 27.44.
Johnson Controls (NYSE:JCI) last released its earnings data on Thursday, July 18th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.03. The company had revenue of $10.83 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter last year, the company posted $0.64 earnings per share. Johnson Controls’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Johnson Controls will post $2.65 earnings per share for the current fiscal year.
A number of other firms have also recently commented on JCI. Analysts at Deutsche Bank raised their price target on shares of Johnson Controls (NYSE:JCI) from $45.00 to $46.00 in a research note to investors on Friday, September 6th. They now have a “hold” rating on the stock. Separately, analysts at Ned Davis Research upgraded shares of Johnson Controls (NYSE:JCI) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 19th. Finally, analysts at Guggenheim raised their price target on shares of Johnson Controls (NYSE:JCI) from $44.00 to $47.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $41.81.
Johnson Controls, Inc (NYSE:JCI) manufactures, installs and services automatic temperature regulation systems for buildings.
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