A New Trick Up Its Sleeve: Parker-Hannifin Corporation (PH), Moody’s Corporation (MCO)

Parker-Hannifin Corporation (NYSE:PH) rose 6.58% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -24.65% and is now up by 0.84% since start of this year. A look at its monthly performance shows that the stock has recorded a -10.96% fall over the past 30 days. Its equity price dipped by -18.65% over the past three months which led to its overall six-month decrease to stand at -3.65%.

Experts from research firms are bullish about the near-term performance of Parker-Hannifin Corporation with most of them predicting a $183.11 price target on a short-term (12 months) basis. The average price target by the analysts will see a 21.76% rise in the stock and would lead to PH’s market cap to surge to $25B. The stock has been rated an average 2.4, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 22 analysts that track Parker-Hannifin Corporation (NYSE:PH) and find out that 9 of them rated it as a Hold. 11 of the 13 analysts rated it as a Buy or a Strong Buy while 2 advised investors to desist from buying the stock or sell it if they already possess it.

A look at PH technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 46.74 point. Its trading volume has lost -199792 shares compared to readings over the past three months as it recently exchanged 1090208 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1290000 shares, and this is 0.85 times the normal volume.

The price of Moody’s Corporation (NYSE:MCO) currently stands at $140.85 after it went up by $0.81 or 0.58% and has found a strong support at $138.12 a share. If the MCO price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $135.39 mark would also be bad for the stock as it means that the stock would plunge by 3.88% from its current position. However, if the stock price is able to trade above the resistance point around $142.88, then it could likely surge higher to try and break the upward resistance which stands at $144.91 a share. Its average daily volatility over the past one month stands at 3.12%. The stock has plunged by 2.44% from its 52-weeks high of $137.42 which it reached on Jul. 26, 2018. In general, it is 8.23% above its 52-weeks lowest point which stands at $129.26 and this setback was observed on Dec. 24, 2018.

Analysts view Moody’s Corporation (NYSE:MCO) as a Hold, with 2.5 consensus rating. Reuters surveyed 14 analysts that follow MCO and found that 10 of those analysts rated the stock as a Hold. The remaining 4 were divided, with 4 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Moody’s Corporation (MCO) shares or sell it if they already own it.