Parker-Hannifin Corp Receives Neutral Rating from Zacks (PH)
Parker-Hannifin Corp (NYSE:PH)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday, Stock Ratings Network.com reports. They currently have a $134.00 price objective on the stock. Zacks‘ target price points to a potential upside of 5.31% from the stock’s previous close.
Zacks‘ analyst wrote, “Parker-Hannifin Corporation is a manufacturing company providing motion and control technologies to industrial and aerospace markets. We have upgraded our recommendation to Neutral with a target price of $134.00. The company reported a modest financial performance for the first quarter of fiscal 2014 with earnings per share increasing 2.5% year over year. Further revenues also inched up 0.6%. However, the uncertain macro economic conditions and the currency headwinds continue to be a drag on the company’s profitability. Nevertheless, its strong cash flow generation capability and strong balance sheet are its strength’s. In addition, the company gives good dividend hikes, reflecting its commitment to return value to shareholders. For fiscal 2013, the company has consecutively raised its dividend four times by 5%, reflecting a yield of 1.5%. “
Shares of Parker-Hannifin Corp (NYSE:PH) traded up 0.17% on Friday, hitting $127.45. The stock had a trading volume of 275,659 shares. Parker-Hannifin Corp has a 1-year low of $84.50 and a 1-year high of $129.77. The stock’s 50-day moving average is $120.1 and its 200-day moving average is $108.. The company has a market cap of $19.020 billion and a P/E ratio of 20.20.
Parker-Hannifin Corp (NYSE:PH) last announced its earnings results on Friday, October 18th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.57 earnings per share. Parker-Hannifin Corp’s revenue was up .5% compared to the same quarter last year.
A number of other firms have also recently commented on PH. Analysts at Wells Fargo & Co. raised their price target on shares of Parker-Hannifin Corp to $141.00 in a research note to investors on Friday. Separately, analysts at Argus upgraded shares of Parker-Hannifin Corp from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, December 10th. They now have a $139.00 price target on the stock, up previously from $120.79. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Parker-Hannifin Corp from a “sell” rating to a “buy” rating in a research note to investors on Friday, December 6th. They now have a $135.00 price target on the stock, up previously from $107.00. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $110.29.
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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