Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Parker Hannifin Corporation as such a stock due to the following factors:
- PH has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $97.0 million.
- PH has traded 1.3 million shares today.
- PH is trading at a new lifetime high.
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More details on PH:
Parker-Hannifin Corporation manufactures motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The stock currently has a dividend yield of 1.6%. PH has a PE ratio of 18.2. Currently there are 8 analysts that rate Parker Hannifin Corporation a buy, 1 analyst rates it a sell, and 5 rate it a hold.
The average volume for Parker Hannifin Corporation has been 945,200 shares per day over the past 30 days. Parker Hannifin has a market cap of $17.1 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 1.61 and a short float of 2.4% with 3.80 days to cover. Shares are up 37.2% year to date as of the close of trading on Thursday.
rates Parker Hannifin Corporation as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
Highlights from the ratings report include:
- The revenue growth came in higher than the industry average of 21.6%. Since the same quarter one year prior, revenues slightly increased by 0.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- The current debt-to-equity ratio, 0.47, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.13, which illustrates the ability to avoid short-term cash problems.
- Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 45.70% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, PH should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- The net income growth from the same quarter one year ago has significantly exceeded that of the Machinery industry average, but is less than that of the S&P 500. The net income increased by 1.9% when compared to the same quarter one year prior, going from $239.74 million to $244.32 million.
- You can view the full Parker Hannifin Corporation Ratings Report.