Weekly Analysts’ Ratings Changes for Parker-Hannifin Corp. (PH)
Several analysts have recently updated their ratings and price targets for Parker-Hannifin Corp. (NYSE: PH):
- 10/11/2016 – Parker-Hannifin Corp. was upgraded by analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating. They now have a $120.00 price target on the stock, up previously from $106.00.
- 10/10/2016 – Parker-Hannifin Corp. had its “market perform” rating reaffirmed by analysts at Avondale Partners.
- 10/5/2016 – Parker-Hannifin Corp. was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $141.00 price target on the stock, up previously from $131.00.
- 10/4/2016 – Parker-Hannifin Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $140.00 price target on the stock. According to Zacks, “Parker-Hannifin has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. The company has been seeing robust bottom line growth, largely driven by the new Win Strategy and sustained reduction in the cost of sales. Parker-Hannifin has benefited tremendously from the global restructuring initiatives undertaken over the past few quarters. These have helped it combat weakness in key regions. Going forward, the company expects to gain traction from improving demand and incremental savings from its realignment actions. The company’s robust financial health, strategic acquisitions and diligent capital deployment strategies add to its strength. However, prolonged sluggishness in the natural resources market, particularly oil and gas, agriculture, mining and construction equipment, as well as softness in key end-markets are proving to be major concerns for the company.”
- 9/12/2016 – Parker-Hannifin Corp. had its “hold” rating reaffirmed by analysts at Jefferies Group.
- 9/8/2016 – Parker-Hannifin Corp. had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $136.00 price target on the stock.
- 8/25/2016 – Parker-Hannifin Corp. had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $109.00 price target on the stock.
- 8/18/2016 – Parker-Hannifin Corp. had its “neutral” rating reaffirmed by analysts at Argus. They wrote, “We will look to get this well-managed company back on the BUY list once the stock’s valuation becomes compelling,”
Shares of Parker-Hannifin Corp. (NYSE:PH) traded down 0.19% during trading on Thursday, reaching $123.70. 521,668 shares of the company’s stock were exchanged. Parker-Hannifin Corp. has a 52-week low of $83.32 and a 52-week high of $128.24. The company has a 50 day moving average of $123.39 and a 200 day moving average of $116.03. The firm has a market capitalization of $16.56 billion, a P/E ratio of 21.00 and a beta of 1.49.
Parker-Hannifin Corp. (NYSE:PH) last posted its earnings results on Thursday, August 4th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the business posted $1.73 EPS. Parker-Hannifin Corp.’s revenue was down 6.0% compared to the same quarter last year. Equities analysts anticipate that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
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In other Parker-Hannifin Corp. news, VP Martin C. Maxwell sold 893 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $120.62, for a total value of $107,713.66. Following the completion of the sale, the vice president now directly owns 39,451 shares of the company’s stock, valued at approximately $4,758,579.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Catherine A. Suever sold 1,019 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $123.29, for a total transaction of $125,632.51. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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