Deutsche Bank analyst Nicole Deblase placed a "Catalyst Call: Sell" on shares of Parker-Hannifin as a short-term investment idea. The analyst expects the company to report quarter-over-quarter deterioration to a mid- to high-single digit order decline within its Industrial segments in fiscal Q3. This is of particular concern from a timing perspective, as Parker-Hannifin’s June fiscal year-end means management has to give fiscal 2024 guidance in only a few months, the analyst tells investors in a research note. It says any step-down in order activity is likely to weigh on the outlook.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PH:
- Parker Scheduled to Present at the Bank of America Global Industrials Conference on March 22 at 1:05 p.m. Greenwich Mean Time (9:05 a.m. Eastern Time)
- Parker-Hannifin price target raised to $390 from $380 at BMO Capital
- Parker Scheduled to Present at the Evercore ISI Industrial Conference on March 7 at 11:00 a.m. Eastern Time
- Parker Scheduled to Present at Citi’s Global Industrial Tech and Mobility Conference on February 23 at 10:30 a.m. Eastern Time
- Parker Scheduled to Present at Barclays Industrial Select Conference on February 22 at 10:55 a.m. Eastern Time
