Stifel Nicolaus Lowers Parker-Hannifin Price Target to $130.00 (PH)
Research analysts at Stifel Nicolaus dropped their target price on shares of Parker-Hannifin (NYSE:PH) from $140.00 to $130.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 18.67% from the stock’s previous close.
Parker-Hannifin (NYSE:PH) traded up 2.06% on Thursday, hitting $111.805. 651,429 shares of the company’s stock traded hands. Parker-Hannifin has a 1-year low of $99.75 and a 1-year high of $130.44. The stock has a 50-day moving average of $122.9 and a 200-day moving average of $121.7. The company has a market cap of $16.652 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 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that Parker-Hannifin will post $8.11 EPS for the current fiscal year.
PH has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $132.29.
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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