PerkinElmer Upgraded by Cowen and Company to “Outperform” (PKI)
PerkinElmer (NYSE:PKI) was upgraded by equities research analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
PerkinElmer (NYSE:PKI) traded up 1.72% on Monday, hitting $41.92. The stock had a trading volume of 114,711 shares. PerkinElmer has a 52-week low of $29.50 and a 52-week high of $41.60. The stock’s 50-day moving average is $39.17 and its 200-day moving average is $36.87. The company has a market cap of $4.711 billion and a P/E ratio of 55.17.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.01. The company had revenue of $524.30 million for the quarter, compared to the consensus estimate of $523.84 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that PerkinElmer will post $2.06 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PerkinElmer in a research note to investors on Friday, December 13th. They now have a $41.00 price target on the stock. Separately, analysts at Macquarie upgraded shares of PerkinElmer from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 10th. They now have a $45.00 price target on the stock, up previously from $40.00. They noted that the move was a valuation call. Finally, analysts at RBC Capital reiterated a “hold” rating on shares of PerkinElmer in a research note to investors on Monday, November 11th. They now have a $19.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $38.14.
PerkinElmer, Inc is a provider of technology, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets.
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