Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.
Parker Hannifin Corporation (
PH) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods laggard. The sector as a whole was unchanged today. By the end of trading, Parker Hannifin Corporation fell $1.24 (-1.5%) to $82.15 on average volume. Throughout the day, 2.1 million shares of Parker Hannifin Corporation exchanged hands as compared to its average daily volume of 1.5 million shares. The stock ranged in price between $81.60-$83.37 after having opened the day at $83.26 as compared to the previous trading day's close of $83.39. Other companies within the Industrial Goods sector that declined today were:
Intellicheck Mobilisa (
IDN), down 11.8%,
Ecotality (
ECTY), down 8.6%,
Advanced Emissions Solutions (
ADES), down 7.2%, and
Tecumseh Products Company (
TECUB), down 6.5%.
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Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components worldwide. Parker Hannifin Corporation has a market cap of $12.33 billion and is part of the industrial industry. The company has a P/E ratio of 11.6, below the S&P 500 P/E ratio of 17.7. Shares are up 9.4% year to date as of the close of trading on Thursday. Currently there are six analysts that rate Parker Hannifin Corporation a buy, one analyst rates it a sell, and three 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 largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
On the positive front,
IntriCon Corporation (
IIN), up 13.6%,
PMFG (
PMFG), up 8.8%,
India Globalization Capital (
IGC), up 7.4%, and
Taylor Devices (
TAYD), up 7.2%, were all gainers within the industrial goods sector with
Quanta Services (
PWR) being today's featured industrial goods sector leader.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider
Industrial Select Sector SPDR (
XLI) while those bearish on the industrial goods sector could consider
ProShares Short Dow 30 (
DOG).
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