Parker-Hannifin’s “Buy” Rating Reaffirmed at Citigroup Inc. (PH)
Parker-Hannifin (NYSE:PH)‘s stock had its “buy” rating restated by analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday. They currently have a $130.00 target price on the stock, down from their previous target price of $140.00. Citigroup Inc.’s target price suggests a potential upside of 18.67% from the company’s current price.
PH has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday. They now have a $130.00 price target on the stock, down previously from $150.00. Separately, 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Parker-Hannifin presently has a consensus rating of “Buy” and a consensus target price of $131.86.
Parker-Hannifin (NYSE:PH) traded up 0.27% during mid-day trading on Thursday, hitting $109.85. 2,954,222 shares of the company’s stock traded hands. Parker-Hannifin has a one year low of $99.75 and a one year high of $130.44. The stock has a 50-day moving average of $122.4 and a 200-day moving average of $121.6. The company has a market cap of $16.361 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.
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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