Evercore ISI Believes Procter & Gamble (NYSE: PG) Won’t Stop Here

By Carrie Williams

Evercore ISI analyst Robert Ottenstein maintained a Buy rating on Procter & Gamble (PGResearch Report) on September 10 and set a price target of $163.00. The company’s shares closed last Friday at $144.13, close to its 52-week high of $146.92.

According to TipRanks.com, Ottenstein is a 2-star analyst with an average return of 2.2% and a 59.5% success rate. Ottenstein covers the Consumer Goods sector, focusing on stocks such as Coca-Cola Europacific Partners, The Estée Lauder Companies, and Anheuser-Busch Inbev Sa.

Currently, the analyst consensus on Procter & Gamble is a Moderate Buy with an average price target of $154.07, implying a 6.9% upside from current levels. In a report issued on September 7, Morgan Stanley also maintained a Buy rating on the stock with a $161.00 price target.

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The company has a one-year high of $146.92 and a one-year low of $121.54. Currently, Procter & Gamble has an average volume of 6.79M.

Based on the recent corporate insider activity of 125 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 PG in relation to earlier this year. Last month, Gary Coombe, the CEO – Grooming of PG sold 20,000 shares for a total of $2,904,200.

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.

Procter & Gamble Co. manufactures and sells branded consumer packaged goods across five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. Some of the popular brands owned by the company include Head & Shoulders, Pantene, Olay, Gillette, Oral-B, Vicks, Ariel, Tide, Pampers, Luvs and Bounty. The company was founded by William Procter and James Gamble in 1837 and is headquartered in Cincinnati, OH.