Parker-Hannifin Receives Average Recommendation of “Buy” from Analysts (NYSE:PH)
Parker-Hannifin (NYSE:PH) has received a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the company, American Banking and Market News reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $132.29.
Parker-Hannifin (NYSE:PH) traded up 2.03% during mid-day trading on Thursday, hitting $111.77. The stock had a trading volume of 648,315 shares. Parker-Hannifin has a one year low of $99.75 and a one year high of $130.44. The stock’s 50-day moving average is $122.9 and its 200-day moving average is $121.7. The company has a market cap of $16.647 billion and a price-to-earnings ratio of 16.40.
Parker-Hannifin (NYSE:PH) last released its earnings data on Wednesday, August 6th. The company reported $2.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.07 by $0.01. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the company posted $1.78 earnings per share. Parker-Hannifin’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Parker-Hannifin will post $8.11 EPS for the current fiscal year.
A number of research firms have recently commented on PH. Analysts at Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $140.00 to $130.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at ISI Group upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $125.00 price target on the stock, down previously from $134.00. Finally, 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, June 20th. They now have an “outperform” rating on the stock.
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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