Parker-Hannifin Receives Consensus Rating of “Buy” from Brokerages (NYSE:PH)
Parker-Hannifin (NYSE:PH) has been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the company, Analyst Ratings Net reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $133.92.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. 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 $140.00. Separately, 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. Finally, 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.
Shares of Parker-Hannifin (NYSE:PH) opened at 111.56 on Thursday. Parker-Hannifin has a 52-week low of $99.75 and a 52-week high of $130.44. The stock’s 50-day moving average is $122.0 and its 200-day moving average is $121.6. The company has a market cap of $16.619 billion and a price-to-earnings ratio of 15.99.
Parker-Hannifin (NYSE:PH) last issued its quarterly 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. On average, analysts predict that Parker-Hannifin will post $7.80 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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