Precision Castparts Corp. Given Buy Rating at Wells Fargo & Co. (PCP)
Precision Castparts Corp. (NYSE:PCP)‘s stock had its “buy” rating reaffirmed by research analysts at Wells Fargo & Co. in a report released on Wednesday, StockRatingsNetwork.com reports. They currently have a $240.00 price target on the stock. Wells Fargo & Co.’s price objective indicates a potential upside of 3.35% from the stock’s previous close.
A number of other firms have also recently commented on PCP. Analysts at CRT Capital raised their price target on shares of Precision Castparts Corp. (NYSE:PCP) from $243.00 to $265.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Precision Castparts Corp. (NYSE:PCP) from $260.00 to $280.00 in a research note to investors on Tuesday, September 24th. They now have a “top pick” rating on the stock. Finally, 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. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $251.78.
Precision Castparts Corp. (NYSE:PCP) opened at 232.21 on Wednesday. Precision Castparts Corp. has a 1-year low of $160.78 and a 1-year high of $254.14. The stock has a 50-day moving average of $223.2 and a 200-day moving average of $212.8. The company has a market cap of $33.794 billion and a price-to-earnings ratio of 22.44.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, July 25th. The company reported $2.88 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $2.35 earnings per share. Precision Castparts Corp.’s revenue was up 20.4% compared to the same quarter last year. On average, analysts predict that Precision Castparts Corp. will post $12.08 earnings per share for the current fiscal year.
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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