Parker-Hannifin Corp Price Target Increased to $122.00 by Analysts at Credit Suisse (PH)
Investment analysts at Credit Suisse lifted their price objective on shares of Parker-Hannifin Corp (NYSE:PH) from $114.00 to $122.00 in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price points to a potential upside of 6.03% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Parker-Hannifin Corp from $118.00 to $125.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at MKM Partners raised their price target on shares of Parker-Hannifin Corp from $112.00 to $118.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Finally, analysts at Robert W. Baird upgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $122.00 price target on the stock, up previously from $101.00. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $97.13.
Parker-Hannifin Corp (NYSE:PH) traded up 2.36% on Monday, hitting $115.06. The stock had a trading volume of 2,019,493 shares. Parker-Hannifin Corp has a 52 week low of $75.80 and a 52 week high of $115.56. The stock’s 50-day moving average is $106.7 and its 200-day moving average is $99.63. The company has a market cap of $17.171 billion and a P/E ratio of 17.84.
Parker-Hannifin Corp (NYSE:PH) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.13. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis.
Parker-Hannifin Corporation (NYSE:PH) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.
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