Precision Castparts Corp. Price Target Increased to $310.00 by Analysts at Barclays (PCP)
Stock analysts at Barclays lifted their target price on shares of Precision Castparts Corp. (NYSE:PCP) from $290.00 to $310.00 in a report issued on Friday, ARN reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would indicate a potential upside of 18.73% from the company’s current price.
Shares of Precision Castparts Corp. (NYSE:PCP) traded down 0.92% on Friday, hitting $258.687. The stock had a trading volume of 818,033 shares. Precision Castparts Corp. has a 52 week low of $180.06 and a 52 week high of $274.96. The stock’s 50-day moving average is $264.8 and its 200-day moving average is $242.0. The company has a market cap of $37.576 billion and a price-to-earnings ratio of 23.80.
Precision Castparts Corp. (NYSE:PCP) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.04 by $0.09. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $2.40 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts expect that Precision Castparts Corp. will post $12.12 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PCP. Analysts at JPMorgan Chase & Co. cut their price target on shares of Precision Castparts Corp. from $295.00 to $288.00 in a research note to investors on Friday. Separately, analysts at Cleveland Research initiated coverage on shares of Precision Castparts Corp. in a research note to investors on Friday, January 10th. They set a “buy” rating on the stock. Finally, 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, January 8th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $274.37.
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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