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.
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