Parker-Hannifin (PH) Distributor Survey Implies Sales Beat Ahead - Stifel

Stifel analyst Nathan Jones reiterated a Buy rating and $384.00 price target on Parker-Hannifin (NYSE: PH) after surveying 49 distributors representing ~15% of Diversified Industrial North America revenue and learning that updated F3Q22 results for sales, inventory stocking, and price beat vs. expectations 3 months ago.

The analyst stated "Our Parker North America distributor survey regression model predicts F3Q22 North American revenue up 15.6% (Stifel organic +9%, Street ~+11.5%)." "Relative to distributors' expectations in early January, F3Q22 sales, inventory restocking, and price beat. NTM sales expectations were essentially unchanged, while inventory restocking expectations decelerated. Supply chain constraints continue to be the most cited factor impacting demand."

For an analyst ratings summary and ratings history on Parker-Hannifin click here. For more ratings news on Parker-Hannifin click here.

Shares of Parker-Hannifin closed at $270.42 yesterday.

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