Barclays Capital Reiterates Overweight on Precision Castparts (PCP)

By admin | 6 years ago

Precision Castparts (NYSE: PCP)‘s stock had its “overweight” rating restated by equities researchers at Barclays Capital (NYSE: BCS) in a report issued on Monday.

Shares of Precision Castparts traded up 0.57% during mid-day trading on Monday, hitting $172.8899. Precision Castparts has a one year low of $136.04 and a one year high of $179.47. The company has a market cap of $25.097 billion and a P/E ratio of 20.45.

Precision Castparts last issued its quarterly earnings data on Thursday, May 17th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts predict that Precision Castparts will post $2.44 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Precision Castparts from $209.00 to $214.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase (NYSE: JPM) raised their price target on shares of Precision Castparts to $176.00 in a research note to investors on Friday. Finally, analysts at Wedbush reiterated an “outperform” rating on shares of Precision Castparts in a research note to investors on Friday. They now have a $188.00 price target on the stock, up previously from $184.00.

Precision Castparts Corp. (PCC) is a manufacturer of complex metal components and products, provides investment castings, forgings and fasteners/fastener systems for aerospace and industrial gas turbine (IGT) applications.

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