Precision Castparts Corp. Receives “Buy” Rating from Citigroup Inc. (PCP)
Precision Castparts Corp. (NYSE:PCP)‘s stock had its “buy” rating restated by stock analysts at Citigroup Inc. in a report issued on Friday. They currently have a $274.00 price target on the stock, down from their previous price target of $305.00. Citigroup Inc.’s price objective suggests a potential upside of 17.67% from the stock’s previous close.
PCP has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an “overweight” rating on shares of Precision Castparts Corp. in a research note on Friday. They now have a $275.00 price target on the stock, down previously from $300.00. Separately, analysts at Goldman Sachs downgraded shares of Precision Castparts Corp. from a “conviction-buy” rating to a “buy” rating in a research note on Friday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Precision Castparts Corp. in a research note on Thursday, July 17th. They now have a $271.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $280.38.
Shares of Precision Castparts Corp. (NYSE:PCP) traded down 1.42% during mid-day trading on Friday, hitting $232.86. The stock had a trading volume of 2,550,635 shares. Precision Castparts Corp. has a 1-year low of $210.79 and a 1-year high of $275.09. The stock’s 50-day moving average is $258.1 and its 200-day moving average is $256.5. The company has a market cap of $33.710 billion and a price-to-earnings ratio of 19.48.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, July 24th. The company reported $3.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $3.35 by $0.03. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Precision Castparts Corp. will post $14.17 earnings per share for the current fiscal year.
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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