Parker Hannifin Corporation (PH): Today's Featured Industrial Goods Loser
Parker Hannifin Corporation (PH) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods loser. The sector as a whole closed the day down 1.7%. By the end of trading, Parker Hannifin Corporation fell $1.15 (-1.5%) to $73.87 on light volume. Throughout the day, 776,621 shares of Parker Hannifin Corporation exchanged hands as compared to its average daily volume of 2.1 million shares. The stock ranged in price between $73.62-$75.99 after having opened the day at $75.53 as compared to the previous trading day's close of $75.02. Other company's within the Industrial Goods sector that declined today were: CVD Equipment Corporation (CVV), down 15.3%, Guanwei Recycling (GPRC), down 13.7%, Gafisa (GFA), down 13.4%, and Euro Tech Holdings Company (CLWT), down 13.3%. Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components worldwide. Parker Hannifin Corporation has a market cap of $11.43 billion and is part of the industrial industry. The company has a P/E ratio of 11.2, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 13% year to date as of the close of trading on Friday. Currently there are seven analysts that rate Parker Hannifin Corporation a buy, no analysts rate it a sell, and five rate it a hold. TheStreet Ratings rates Parker Hannifin Corporation as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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