Parker-Hannifin (PH) Stock Rating Reaffirmed by Buckingham Research

Parker-Hannifin (NYSE:PH)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Buckingham Research in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $210.00 price target on the industrial products company’s stock. Buckingham Research’s price target indicates a potential downside of 0.45% from the company’s current price. The analysts noted that the move was a valuation call.

Several other analysts have also weighed in on PH. Morgan Stanley lowered shares of Parker-Hannifin from an “overweight” rating to an “equal weight” rating and set a $188.00 target price for the company. in a research note on Monday, October 2nd. Wells Fargo & Co boosted their target price on shares of Parker-Hannifin from $181.50 to $196.00 and gave the company a “market perform” rating in a research note on Friday, October 6th. Cowen reiterated a “hold” rating and set a $140.00 target price on shares of Parker-Hannifin in a research note on Friday, October 6th. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $198.21.

Shares of Parker-Hannifin (PH) opened at $210.94 on Friday. The stock has a market cap of $28,102.69, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.87 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a twelve month low of $141.06 and a twelve month high of $212.80.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. equities analysts predict that Parker-Hannifin will post 9.75 EPS for the current fiscal year.

In other news, VP Robert W. Malone sold 540 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.37, for a total transaction of $100,639.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.14, for a total transaction of $395,039.84. Following the transaction, the vice president now owns 5,207 shares of the company’s stock, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. Insiders have sold 22,495 shares of company stock valued at $4,127,941 in the last 90 days. Insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC grew its position in Parker-Hannifin by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares in the last quarter. People s United Financial Inc. grew its position in Parker-Hannifin by 0.5% in the 2nd quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after buying an additional 31 shares in the last quarter. National Asset Management Inc. grew its position in Parker-Hannifin by 4.7% in the 2nd quarter. National Asset Management Inc. now owns 1,432 shares of the industrial products company’s stock valued at $229,000 after buying an additional 64 shares in the last quarter. Suntrust Banks Inc. grew its position in Parker-Hannifin by 0.8% in the 2nd quarter. Suntrust Banks Inc. now owns 22,244 shares of the industrial products company’s stock valued at $3,553,000 after buying an additional 172 shares in the last quarter. Finally, Logan Capital Management Inc. grew its position in Parker-Hannifin by 14.8% in the 2nd quarter. Logan Capital Management Inc. now owns 1,524 shares of the industrial products company’s stock valued at $244,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.com-unik.info/2018/01/21/parker-hannifin-ph-stock-rating-reaffirmed-by-buckingham-research.html.

About Parker-Hannifin

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.

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit