.jpg "Parker Hannifin (NYSE: PH)")
Jefferies analyst Stephen Volkmann reiterated a Hold rating on Parker Hannifin (NYSE: PH) yesterday and set a price target of $170. The company’s shares closed yesterday at $158.75, close to its 52-week low of $152.47.
According to TipRanks.com, Volkmann is a 5-star analyst with an average return of 18.0% and a 68.8% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, Oshkosh Corp, and Caterpillar.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Parker Hannifin with a $185.38 average price target, which is a 16.8% upside from current levels. In a report issued on July 16, Goldman Sachs also downgraded the stock to Hold with a $164 price target.
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Based on Parker Hannifin’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $366 million. In comparison, last year the company had a net profit of $293 million.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.
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Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.
