BMO Capital Reiterates a Buy Rating on Parker Hannifin

By Jason Carr

In a report issued on July 18, Joel Tiss from BMO Capital reiterated a Buy rating on Parker Hannifin (NYSE: PH), with a price target of $190. The company’s shares closed yesterday at $165.08.

According to TipRanks.com, Tiss is a 4-star analyst with an average return of 9.9% and a 59.2% success rate. Tiss covers the Industrial Goods sector, focusing on stocks such as John Bean Technologies, Illinois Tool Works, and The Middleby Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Parker Hannifin with a $182.88 average price target, a 10.8% upside from current levels. In a report issued on July 3, Stifel Nicolaus also maintained a Buy rating on the stock with a $200 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.