Robert W. Baird Increases Parker-Hannifin Corp Price Target to $138.00 (PH)
Equities research analysts at Robert W. Baird upped their price objective on shares of Parker-Hannifin Corp (NYSE:PH) from $122.00 to $138.00 in a research note issued to investors on Tuesday, AR Network reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 8.13% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Parker-Hannifin Corp in a research note to investors on Friday. They now have a $134.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $111.24.
Shares of Parker-Hannifin Corp (NYSE:PH) traded up 1.41% during mid-day trading on Tuesday, hitting $127.63. 765,012 shares of the company’s stock traded hands. Parker-Hannifin Corp has a 52-week low of $84.50 and a 52-week high of $129.77. The stock’s 50-day moving average is $121.5 and its 200-day moving average is $109.5. The company has a market cap of $19.047 billion and a price-to-earnings ratio of 19.98.
Parker-Hannifin Corp (NYSE:PH) last announced its 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. On average, analysts predict that Parker-Hannifin Corp will post $6.55 earnings per share for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.