Parkway Properties Upgraded to “Buy” at Stifel Nicolaus (PKY)
Parkway Properties (NYSE:PKY) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $21.00 target price on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 12.12% from the stock’s previous close. The analysts noted that the move was a valuation call.
Parkway Properties (NYSE:PKY) opened at 18.73 on Thursday. Parkway Properties has a one year low of $15.70 and a one year high of $19.67. The stock has a 50-day moving average of $18.41 and a 200-day moving average of $18.12. The company has a market cap of $1.934 billion and a price-to-earnings ratio of 53.93.
Parkway Properties (NYSE:PKY) last released its earnings data on Monday, May 12th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.03. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $101.57 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 52.7% on a year-over-year basis. Analysts expect that Parkway Properties will post $1.23 EPS for the current fiscal year.
PKY has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Parkway Properties from $21.00 to $22.00 in a research note on Tuesday, April 22nd. They now have an “overweight” rating on the stock. Separately, analysts at Zacks upgraded shares of Parkway Properties from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 25th. They now have a $18.80 price target on the stock. Finally, analysts at Zacks downgraded shares of Parkway Properties from a “neutral” rating to an “underperform” rating in a research note on Monday, February 24th. They now have a $17.10 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Parkway Properties has an average rating of “Hold” and an average price target of $20.48.
Parkway Properties, Inc (NYSE:PKY) is a self-administered real estate investment trust (REIT) specializing in the ownership of office properties in higher growth submarkets in the Sunbelt region of the United States.
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.