Precision Castparts Corp. Now Covered by Analysts at Cleveland Research (PCP)
Cleveland Research assumed coverage on shares of Precision Castparts Corp. (NYSE:PCP) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Precision Castparts Corp. (NYSE:PCP) traded down 1.12% on Friday, hitting $269.02. 57,319 shares of the company’s stock traded hands. Precision Castparts Corp. has a 52 week low of $180.06 and a 52 week high of $272.70. The stock has a 50-day moving average of $261.4 and a 200-day moving average of $239.1. The company has a market cap of $39.077 billion and a P/E ratio of 24.80.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, October 24th. The company reported $2.90 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. On average, analysts predict that Precision Castparts Corp. will post $12.12 earnings per share for the current fiscal year.
PCP has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Precision Castparts Corp. from $287.00 to $300.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Precision Castparts Corp. presently has a consensus rating of “Buy” and an average price target of $272.63.
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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