Stifel slashes price target on Parker-Hannifin Corporation [PH] – find out why.

Parker-Hannifin Corporation [NYSE: PH] gained 3.75% or 8.18 points to close at $226.20 with a heavy trading volume of 1005600 shares. The company report on November 2, 2020 that Parker Announces Retirement of CFO Catherine A. Suever, Board Elects VP and Controller Todd M. Leombruno as Successor.

Parker Hannifin Corporation (NYSE:PH), the global leader in motion and control technologies, today announced that Catherine A. Suever, Executive Vice President – Finance and Administration and Chief Financial Officer, will retire as part of her long-term plan after 33 years of dedicated service to the company. The Board of Directors has elected Todd M. Leombruno, currently Vice President and Controller, to succeed Ms. Suever, effective January 1, 2021 as Executive Vice President and Chief Financial Officer.

“Cathy’s retirement marks the end of a truly remarkable 33-year career with Parker,” said Tom Williams, Chairman and Chief Executive Officer. “During her tenure as CFO, she has leveraged her extensive knowledge and financial expertise to help effectively guide Parker through several periods of economic recession and expansion, drive implementation of the Win Strategy™, manage major acquisitions, and ultimately achieve record financial performance. I would like to thank Cathy for her skillful leadership and distinguished character, which has long served as an example of Parker’s values and leading with purpose.”.

It opened the trading session at $222.23, the shares rose to $227.68 and dropped to $220.95, the range by which the price of stock traded the whole day. The daily chart for PH points out that the company has recorded 47.50% gains over the past six months. However, it is still -143.23% lower than its most recent low trading price.

If we look at the average trading volume of 801.22K shares, PH reached to a volume of 1005600 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Parker-Hannifin Corporation [PH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PH shares is $232.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PH stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Parker-Hannifin Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 08, 2020. While these analysts kept the previous recommendation, Gordon Haskett raised their target price from $163 to $229. The new note on the price target was released on June 16, 2020, representing the official price target for Parker-Hannifin Corporation stock.

The Average True Range (ATR) for Parker-Hannifin Corporation is set at 6.94, with the Price to Sales ratio for PH stock in the period of the last 12 months amounting to 2.12. The Price to Book ratio for the last quarter was 4.76, with the Price to Cash per share for the same quarter was set at 5.89. Price to Free Cash Flow for PH in the course of the last twelve months was 20.99 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for PH stock

Parker-Hannifin Corporation [PH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.82. With this latest performance, PH shares gained by 6.13% in over the last four-week period, additionally plugging by 47.50% over the last 6 months – not to mention a rise of 13.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PH stock in for the last two-week period is set at 60.39, with the RSI for the last a single of trading hit 63.62, and the three-weeks RSI is set at 59.50 for Parker-Hannifin Corporation [PH]. The present Moving Average for the last 50 days of trading for this stock 211.13, while it was recorded at 212.73 for the last single week of trading, and 182.42 for the last 200 days.

Parker-Hannifin Corporation [PH]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Parker-Hannifin Corporation [PH] shares currently have an operating margin of +14.51 and a Gross Margin at +25.44. Parker-Hannifin Corporation’s Net Margin is presently recorded at +8.81.

Return on Total Capital for PH is now 14.29, given the latest momentum, and Return on Invested Capital for the company is 9.16. Return on Equity for this stock inclined to 19.98, with Return on Assets sitting at 6.47. When it comes to the capital structure of this company, Parker-Hannifin Corporation [PH] has a Total Debt to Total Equity ratio set at 140.69. Additionally, PH Total Debt to Total Capital is recorded at 58.45, with Total Debt to Total Assets ending up at 43.58. Long-Term Debt to Equity for the company is recorded at 126.74, with the Long-Term Debt to Total Capital now at 52.66.

Reflecting on the efficiency of the workforce at the company, Parker-Hannifin Corporation [PH] managed to generate an average of $23,878 per employee. Receivables Turnover for the company is 5.96 with a Total Asset Turnover recorded at a value of 0.73.Parker-Hannifin Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.60.

Parker-Hannifin Corporation [PH]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Parker-Hannifin Corporation posted 2.76/share EPS, while the average EPS was predicted by analysts to be reported at 2.65/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Parker-Hannifin Corporation go to 7.70%.

An analysis of insider ownership at Parker-Hannifin Corporation [PH]

There are presently around $23,300 million, or 83.40% of PH stock, in the hands of institutional investors. The top three institutional holders of PH stocks are: VANGUARD GROUP INC with ownership of 9,701,349, which is approximately -1.78% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 8,632,137 shares of the stock with an approximate value of $1.95 billion in PH stocks shares; and STATE STREET CORP, currently with $1.18 billion in PH stock with ownership of nearly 3.622% of the company’s market capitalization.

Positions in Parker-Hannifin Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 357 institutional holders increased their position in Parker-Hannifin Corporation [NYSE:PH] by around 10,957,809 shares. Additionally, 328 investors decreased positions by around 11,215,176 shares, while 131 investors held positions by with 80,831,933 shares. The mentioned changes placed institutional holdings at 103,004,918 shares, according to the latest SEC report filing. PH stock had 120 new institutional investments in for a total of 2,753,720 shares, while 61 institutional investors sold positions of 704,704 shares during the same period.

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