In a report released today, Joshua Pokrzywinski from Morgan Stanley maintained a Buy rating on Parker Hannifin (PH), with a price target of $224.00. The company’s shares closed last Friday at $194.60.
According to TipRanks.com, Pokrzywinski is a 3-star analyst with an average return of 3.3% and a 53.8% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Emerson Electric Company, and Honeywell International.
Currently, the analyst consensus on Parker Hannifin is a Moderate Buy with an average price target of $208.09, implying a 6.7% upside from current levels. In a report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $223.00 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 revenue of $3.7 billion and net profit of $367 million. In comparison, last year the company earned revenue of $3.69 billion and had a net profit of $411 million.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is neutral on the stock.
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Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. The firm also provides 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. The Aerospace Systems segment supplies aftermarket services, commercial transports, engines, helicopters, military aircraft, missiles, and unmanned aerial vehicles. The company was founded by Arthur L. Parker in 1918 and is headquartered in Cleveland, OH.
