Precision Castparts Corp. PT Raised to $300.00 (PCP)
Equities research analysts at Canaccord Genuity lifted their target price on shares of Precision Castparts Corp. (NYSE:PCP) from $287.00 to $300.00 in a research note issued to investors on Wednesday, AmericanBankingNews.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 11.90% from the company’s current price.
A number of other analysts have also recently weighed in on PCP. Analysts at Zacks reiterated a “neutral” rating on shares of Precision Castparts Corp. in a research note to investors on Friday, January 3rd. They now have a $279.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Precision Castparts Corp. from $290.00 to $310.00 in a research note to investors on Friday, January 3rd. They now have a “top pick” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of Precision Castparts Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $270.90.
Precision Castparts Corp. (NYSE:PCP) traded up 0.14% during mid-day trading on Wednesday, hitting $268.47. The stock had a trading volume of 89,522 shares. Precision Castparts Corp. has a 1-year low of $180.06 and a 1-year high of $271.99. The stock’s 50-day moving average is $260.3 and its 200-day moving average is $238.6. The company has a market cap of $38.997 billion and a P/E ratio of 24.44.
Precision Castparts Corp. (NYSE:PCP) last posted its quarterly 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. Analysts expect that Precision Castparts Corp. will post $12.12 EPS 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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