Barclays Increases Precision Castparts Corp. Price Target to $290.00 (PCP)
Research analysts at Barclays hoisted their price objective on shares of Precision Castparts Corp. (NYSE:PCP) from $250.00 to $290.00 in a report released on Friday, Analyst RN reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective suggests a potential upside of 13.09% from the stock’s previous close.
Precision Castparts Corp. (NYSE:PCP) traded down 0.64% during mid-day trading on Friday, hitting $254.80. The stock had a trading volume of 556,638 shares. Precision Castparts Corp. has a one year low of $157.51 and a one year high of $254.14. The stock has a 50-day moving average of $219.8 and a 200-day moving average of $208.8. The company has a market cap of $37.082 billion and a P/E ratio of 24.78.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, October 24th. The company reported $2.90 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.83 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at DA Davidson reiterated a “buy” rating on shares of Precision Castparts Corp. in a research note to investors on Friday. They now have a $300.00 price target on the stock, up previously from $275.00. Separately, analysts at Canaccord Genuity initiated coverage on shares of Precision Castparts Corp. in a research note to investors on Wednesday, October 9th. They set a “buy” rating and a $264.00 price target on the stock. Finally, analysts at Jefferies Group cut their EPS estimates on shares of Precision Castparts Corp. in a research note on Wednesday. They now have a “hold” rating and a $235.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $258.30.
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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