Parker-Hannifin Given Average Recommendation of “Buy” by Analysts (NYSE:PH)
Parker-Hannifin (NYSE:PH) has received a consensus recommendation of “Buy” from the sixteen analysts that are currently covering the company, AnalystRatingsNetwork reports. Six analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $125.80.
A number of research firms have recently commented on PH. Analysts at Credit Suisse cut their price target on shares of Parker-Hannifin from $148.00 to $144.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Parker-Hannifin in a research note on Thursday, May 29th. They now have a $131.00 price target on the stock. Finally, analysts at S&P Equity Research upgraded shares of Parker-Hannifin to a “hold” rating in a research note on Wednesday, April 30th.
In other Parker-Hannifin news, major shareholder Thomas A. Piraino sold 3,840 shares of the company’s stock on the open market in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $128.71, for a total transaction of $494,246.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Parker-Hannifin (NYSE:PH) opened at 126.99 on Tuesday. Parker-Hannifin has a 1-year low of $92.08 and a 1-year high of $130.44. The stock has a 50-day moving average of $125.5 and a 200-day moving average of $122.3. The company has a market cap of $18.913 billion and a price-to-earnings ratio of 19.01.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.65 by $0.23. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Parker-Hannifin will post $6.52 earnings per share for the current fiscal year.
Parker-Hannifin Corporation (NYSE:PH) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.
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