In a report released today, Andy Casey from Wells Fargo maintained a Buy rating on Parker Hannifin (PH), with a price target of $175.00. The company’s shares closed last Monday at $127.37.
According to TipRanks.com, Casey is a 4-star analyst with an average return of 5.1% and a 48.6% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, Caterpillar, and Kennametal.
Currently, the analyst consensus on Parker Hannifin is a Moderate Buy with an average price target of $168.67, which is a 36.9% upside from current levels. In a report issued on March 17, Stifel Nicolaus also maintained a Buy rating on the stock with a $188.00 price target.
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The company has a one-year high of $215.95 and a one-year low of $93.00. Currently, Parker Hannifin has an average volume of 1.35M.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PH in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
