Precision Castparts Corp. PT Raised to $295.00 (PCP)
Investment analysts at Cowen and Company hoisted their target price on shares of Precision Castparts Corp. (NYSE:PCP) from $260.00 to $295.00 in a note issued to investors on Friday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target would indicate a potential upside of 15.77% from the stock’s previous close.
PCP has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Precision Castparts Corp. in a research note to investors on Friday. They now have a $264.00 price target on the stock. Separately, analysts at RBC Capital reiterated a “top pick” rating on shares of Precision Castparts Corp. in a research note to investors on Friday. They now have a $280.00 price target on the stock, down previously from $290.00. Finally, analysts at Barclays raised their price target on shares of Precision Castparts Corp. from $250.00 to $290.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $263.65.
Shares of Precision Castparts Corp. (NYSE:PCP) opened at 254.81 on Friday. Precision Castparts Corp. has a 52 week low of $157.51 and a 52 week high of $254.14. The stock’s 50-day moving average is $219.8 and its 200-day moving average is $208.8. The company has a market cap of $37.084 billion and a price-to-earnings 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 last year, the company posted $2.28 earnings per share. Precision Castparts Corp.’s revenue was up 22.6% 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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