Latest news for Parker Hannifin (NYSE:PH) Stock

Parker Hannifin

Parker Hannifin is an industrial conglomerate operating through two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 17,100 independent distributors, and about 40% of its business occurs outside the United States.

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Stanley Black &amp; Decker, Inc.&#39;s (NYSE: SWK) cost-reduction program is expected to aid its bottom line and drive margin performance in the quarters ahead.

Stanley Black Exhibits Bright Prospects, Headwinds Persist

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Zebra Technologies Corporation (NASDAQ: ZBRA) has introduced three new solutions, namely, the Zebra Kiosk System, Zebra Workcloud Actionable Intelligence 7.0 and the ET6x Windows rugged tablets at the annual ZONE customer conference.

Zebra Technologies Unveils Retail Efficiency Solutions at ZONE

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Tetra Tech, Inc. (NASDAQ: TTEK) recently announced that it has secured a $39.3 million contract from the United States Agency for International Development (&#34;USAID&#34;). The latest deal will involve the company supporting USAID&#39;s Engendering Industries program.

Tetra Tech Secures $39.3M Single-Award Contract From USAID

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Stanley Black &amp; Decker, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/swk#NYSE">SWK</a>) cost-reduction program is expected to aid its bottom line and drive margin performance in the quarters ahead. The program comprises a series of initiatives to resize the organization, reduce inventory and optimize the supply chain with the goal of repositioning it to pursue sustainable long-term growth.
In the first six months of 2024 and since the inception of the program, SWK realized pre-tax run rate savings of $295 million and $1.3 billion, respectively. The savings were driven by lower headcount, reductions of indirect spending and supply-chain transformation.
Stanley Black has been divesting non-core operations to drive growth. In April 2024, the company divested its STANLEY Infrastructure (Infrastructure) business to Epiroc AB for a cash consideration of $760 million. The divestment will help the company to focus on its core businesses, reduce debt and support capital-allocation priorities.
It remains focused on rewarding its shareholders through dividend payments and share buybacks. In the first six months of 2024, the firm paid dividends of $243.6 million, up 1.7% year over year. It also bought back shares worth $7.7 million. In July 2024, SWK hiked its quarterly dividend by a penny to 82 cents per share.
<h2>SWK&#39;s Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9c/77848.jpg?v=1064530480" />
Image Source: Zacks Investment Research
In the past three months, the Zacks Rank #3 (Hold) company has gained 20.2% compared with the industry&#39;s&nbsp; 9.4% growth.
Despite the positives, lower consumer outdoor and do-it-yourself market demand is a concern for the Tools &amp; Outdoor segment. Within the segment, the power tools business has been experiencing weaknesses due to reduced demand for consumer tools. Weakening automotive end markets, owing to headwinds in the global automotive OEM light vehicle production, are another setback.
Further, the low liquidity level remains a concern. Exiting the second quarter, the company&#39;s cash and cash equivalents were $318.5 million, lower than the short-term borrowings of $492.4 million. Its current maturities of long-term debt totaled $500.1 million. This implies that SWK does not have sufficient cash to meet its current debt obligations. Also, the stock looks more leveraged than the industry. Its long-term debt/capital ratio is currently 0.39, higher than 0.36 of the industry.
<h2>Stocks to Consider</h2>
Some better-ranked companies from the same space are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank #2 (Buy).
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.2%.
<a href="https://www.zacks.com/stock/news/2336321/stanley-black-exhibits-bright-prospects-headwinds-persist?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2336321">To read this article on Zacks.com click here.</a>

Zebra Technologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zbra#NASDAQ">ZBRA</a>) has introduced three new solutions, namely, the Zebra Kiosk System, Zebra Workcloud Actionable Intelligence 7.0 and the ET6x Windows rugged tablets at the annual ZONE customer conference.
At Zebra Technologies&#39; ZONE event, retailers connect with customers, partners and prospects to explore industry challenges and opportunities with keynote presentations focusing on key topics, including inventory management, loss prevention and efficiency improvement. In this event, the company introduced its expanded range of integrated hardware and software solutions, utilizing AI, cloud and machine learning to enhance workflow efficiencies and elevate customer and associate experiences in modern retail environments.
ZBRA&#39;s Kiosk System is a versatile, modular solution made to address self-service needs across retail and other sectors, anchored by the KC50 Android Kiosk Computer available in 15&quot; and 22&quot; screen sizes. This system, which includes tap-to-pay, works with all major payment terminals and has a voice assistant, thereby making checkout easier and allowing staff to focus on more important tasks. Built on Qualcomm&#39;s advanced chipset and Zebra&#39;s Enterprise Android platform with Mobility DNA, the product ensures seamless connectivity, security and management, with flexible deployment options and the ability to add components like barcode scanners, payment terminals or a TD50 15&quot; touch display for a dual-display setup.
Zebra Workcloud Actionable Intelligence 7.0 brings a next-gen, AI-powered analytics platform tailored for the modern store, leveraging Google Cloud&#39;s serverless query engine for unmatched speed and performance. The update automates data analysis, task management and action verification, enabling users to quickly identify hidden insights and streamline workflows, ultimately enhancing productivity and uncovering opportunities beyond human detection.
The ET6x Windows rugged tablets, powered by Intel&#39;s Core Ultra platform with a dedicated Neural Processing Unit, enhance AI capabilities across industries such as retail, logistics and field services. These advanced features improve performance and efficiency for various applications. The tablets also come with the Zebra Control Hub for streamlined configuration and management, featuring an advanced AI-enabled touchscreen for improved accuracy, AI-powered audio for better communication and flexible usage options.
<h2>ZBRA&#39;s Zacks Rank and Price Performance</h2>
ZBRA currently carries a Zacks Rank #3 (Hold).
Zebra Technologies is focusing on advancing digital capabilities, optimizing the supply chain and expanding data analytics capabilities to engage with its customers. Higher sales of mobile computing products are supporting the Enterprise Visibility &amp; Mobility segment&#39;s sales.
In the past year, the company&#39;s shares have gained 31.4% compared with the industry&#39;s 23.1% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/90/77384.jpg?v=722242881" />
Image Source: Zacks Investment Research
Weak demand for printing solutions is affecting the company&#39;s Asset Intelligence &amp; Tracking segment. Low demand for RFID products is also concerning. High debt levels are also likely to raise the company&#39;s financial obligations and hurt profitability. Given its diverse presence, forex woes remain concerning.
<h2>Stocks to Consider</h2>
Some better-ranked companies are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank #2 (Buy).
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.1%.
<a href="https://www.zacks.com/stock/news/2334835/zebra-technologies-unveils-retail-efficiency-solutions-at-zone?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2334835">To read this article on Zacks.com click here.</a>

Tetra Tech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttek#NASDAQ">TTEK</a>) recently announced that it has secured a $39.3 million contract from the United States Agency for International Development (&quot;USAID&quot;). The latest deal will involve the company supporting USAID&#39;s Engendering Industries program.
As part of the single-award deal, Tetra Tech will work on enhancing gender equality and women&#39;s economic empowerment opportunities in multiple industries throughout the world. These industries include water, infrastructure, power, transportation as well as information and communications technology.
Under the USAID Engendering Industries program, the company&#39;s professionals will utilize data-driven change management tactics to help companies and organizations boost gender equality and economic opportunities for women globally. As part of the Engendering Industries program since 2018, TTEK has been offering technical support services to more than 68 organizations in 39 countries.
<h2>Tetra Tech&#39;s Other Notable Contracts</h2>
Lately, Tetra Tech has received a series of deals, which are likely to drive its growth. In July 2024, the company received a $73 million deal from the USAID to enhance the availability of cost-effective and dependable electricity across 18 nations in West Africa. Also, in March 2024, it secured a $375 million multiple-award contract from National Aeronautics and Space Administration (&quot;NASA&quot;). Per the five-year contract, Tetra Tech will offer environmental restoration and compliance services at NASA facilities across the United States.
In January 2024, the company secured a $34 million contract from the USAID. Per the deal, TTEK will support the USAID Integrated Land and Resource Governance II project, which is aimed at promoting sustainable economic development through better land rights governance. Also, in the same month, it secured a $24 million, single-award deal from USAID to conserve biodiversity and natural resources in Cambodia.
<h2>TTEK&#39;s Zacks Rank and Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/49/77316.jpg?v=170175387" />
Image Source: Zacks Investment Research
Tetra Tech currently carries a Zacks Rank #2 (Buy). Shares of the company gained 50.1% in the past year against the industry&lsquo;s 11% decline.
<h2>Other Stocks to Consider</h2>
Other top-ranked companies from the same space are discussed below.
Flowserve Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fls#NYSE">FLS</a>) currently carries a Zacks Rank of 2.
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.1%.
<a href="https://www.zacks.com/stock/news/2334556/tetra-tech-secures-39-3m-single-award-contract-from-usaid?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2334556">To read this article on Zacks.com click here.</a>

TD Cowen analyst Joseph Giordano maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Hold and raises the price target from $500 to $520.

Price Target

TD Cowen Maintains Hold on Parker Hannifin, Raises Price Target to $520

Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) has outperformed the market over the past 5 years by 13.7% on an annualized basis producing an average annual return of 26.53%. Currently, Parker Hannifin has a market capitalization of $74.73 billion. 
Buying $100 In PH: If an investor had bought $100 of PH stock 5 years ago, it would be worth $318.88 today based on a price of $581.10 for PH at the time of writing.
<h3>Parker Hannifin's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726002009_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $300 Today

Parker Hannifin's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) short percent of float has fallen 23.81% since its last report. The company recently reported that it has 1.03 million shares sold short, which is 0.8% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.45 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Parker Hannifin Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725642012_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Parker Hannifin has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Parker Hannifin's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Parker Hannifin's peer group average for short interest as a percentage of float is 2.54%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Parker Hannifin's Recent Short Interest

During the last three months, 11 analysts shared their evaluations of Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>), revealing diverse outlooks from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $635.55, a high estimate of $673.00, and a low estimate of $600.00. This upward trend is apparent, with the current average reflecting a 3.06% increase from the previous average price target of $616.70.
<img src="https://www.benzinga.com/files/images/story/2024/1725462072_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Parker Hannifin among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tim Thein</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Outperform</td>
<td>$650.00</td>
<td>$610.00</td>
</tr>
<tr>
<td>David Raso</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$656.00</td>
<td>$620.00</td>
</tr>
<tr>
<td>Nicole Deblase</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$645.00</td>
<td>$595.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$640.00</td>
<td>$600.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$673.00</td>
<td>$621.00</td>
</tr>
<tr>
<td>Mircea Dobre</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$654.00</td>
<td>$622.00</td>
</tr>
<tr>
<td>Nathan Jones</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$613.00</td>
<td>$629.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$600.00</td>
<td>$630.00</td>
</tr>
<tr>
<td>Nathan Jones</td>
<td>Stifel</td>
<td>Maintains</td>
<td>Buy</td>
<td>$629.00</td>
<td>$629.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$621.00</td>
<td>$611.00</td>
</tr>
<tr>
<td>Tim Thein</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$610.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Parker Hannifin. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Parker Hannifin compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Parker Hannifin's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Capture valuable insights into Parker Hannifin's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Parker Hannifin analyst ratings.</a>
<h2>Delving into Parker Hannifin's Background</h2>
Parker Hannifin is an industrial conglomerate operating through two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 17,100 independent distributors, and about 40% of its business occurs outside the United States.
<h3>Parker Hannifin: A Financial Overview</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Parker Hannifin's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 1.78%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 15.13%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Parker Hannifin's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 6.63%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Parker Hannifin's ROA stands out, surpassing industry averages. With an impressive ROA of 2.67%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.87, caution is advised due to increased financial risk.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cracking The Code: Understanding Analyst Reviews For Parker Hannifin

Raymond James analyst Tim Thein maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Outperform and raises the price target from $610 to $650.

Raymond James Maintains Outperform on Parker Hannifin, Raises Price Target to $650

Jennifer Parmentier, Chief Executive Officer at Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>), disclosed an insider sell on August 26, according to a recent SEC filing.
What Happened: Parmentier's decision to sell 2,641 shares of Parker Hannifin was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000076334/000106299324015649//Archives/edgar/data/76334/000106299324015649/0001062993-24-015649-index.htm">U.S. Securities and Exchange Commission</a> on Monday. The total value of the sale is $1,554,460.
Tracking the Tuesday's morning session, Parker Hannifin shares are trading at $591.25, showing a down of 0.0%.
<h3>Delving into Parker Hannifin's Background</h3>
Parker Hannifin is an industrial conglomerate operating through two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 17,100 independent distributors, and about 40% of its business occurs outside the United States.
<h3>Financial Milestones: Parker Hannifin's Journey</h3>
Revenue Growth: Parker Hannifin's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 1.78%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 35.94%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Parker Hannifin's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 6.1.
</li>
</ul>
Debt Management: Parker Hannifin's debt-to-equity ratio surpasses industry norms, standing at 0.87. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Evaluating Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 27.07 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 3.86 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Parker Hannifin's EV/EBITDA ratio, surpassing industry averages at 17.14, positions it with an above-average valuation in the market.
</li>
</ul>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
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<h3>Exploring the Significance of Insider Trading</h3>
Insider transactions serve as a piece of the puzzle in investment decisions, rather than the entire picture.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Navigating the World of Insider Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000076334">Check Out The Full List Of Parker Hannifin's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Chief Executive Officer Of Parker Hannifin Sold $1.55M In Stock

Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) has outperformed the market over the past 20 years by 6.56% on an annualized basis producing an average annual return of 14.94%. Currently, Parker Hannifin has a market capitalization of $75.49 billion. 
Buying $1000 In PH: If an investor had bought $1000 of PH stock 20 years ago, it would be worth $16,295.78 today based on a price of $587.30 for PH at the time of writing.
<h3>Parker Hannifin's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724360426_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 20 Years Ago Would Be Worth $16,000 Today

Evercore ISI Group analyst David Raso maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Outperform and raises the price target from $620 to $656.

Evercore ISI Group Maintains Outperform on Parker Hannifin, Raises Price Target to $656

Deutsche Bank analyst Nicole Deblase maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Buy and raises the price target from $595 to $645.

Deutsche Bank Maintains Buy on Parker Hannifin, Raises Price Target to $645

Wells Fargo analyst Joseph O'Dea maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Overweight and raises the price target from $600 to $640.

Wells Fargo Maintains Overweight on Parker Hannifin, Raises Price Target to $640

Truist Securities analyst Jamie Cook reiterates Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Buy and raises the price target from $621 to $673.

Reiteration

Truist Securities Reiterates Buy on Parker Hannifin, Raises Price Target to $673

Across the recent three months, 10 analysts have shared their insights on Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Parker Hannifin, revealing an average target of $624.8, a high estimate of $654.00, and a low estimate of $600.00. This current average reflects an increase of 2.24% from the previous average price target of $611.11. 
<img src="https://www.benzinga.com/files/images/story/2024/1723208489_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The analysis of recent analyst actions sheds light on the perception of Parker Hannifin by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mircea Dobre</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$654.00</td>
<td>$622.00</td>
</tr>
<tr>
<td>Nathan Jones</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$613.00</td>
<td>$629.00</td>
</tr>
<tr>
<td>Joseph O'Dea</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$600.00</td>
<td>$630.00</td>
</tr>
<tr>
<td>Nathan Jones</td>
<td>Stifel</td>
<td>Maintains</td>
<td>Buy</td>
<td>$629.00</td>
<td>$629.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$621.00</td>
<td>$611.00</td>
</tr>
<tr>
<td>Tim Thein</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$610.00</td>
<td>-</td>
</tr>
<tr>
<td>Julian Mitchell</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$610.00</td>
<td>$618.00</td>
</tr>
<tr>
<td>Brett Linzey</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$650.00</td>
<td>$550.00</td>
</tr>
<tr>
<td>Andrew Obin</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$650.00</td>
<td>$600.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$611.00</td>
<td>$611.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Parker Hannifin. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Parker Hannifin compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Parker Hannifin's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Parker Hannifin's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/PH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Parker Hannifin analyst ratings.</a>
<h2>Get to Know Parker Hannifin Better</h2>
Parker Hannifin is an industrial conglomerate operating through two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 17,100 independent distributors, and about 40% of its business occurs outside the United States.
<h3>A Deep Dive into Parker Hannifin's Financials</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Parker Hannifin displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 0.25%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Parker Hannifin's net margin excels beyond industry benchmarks, reaching 14.32%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 6.35%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Parker Hannifin's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.45%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.98, caution is advised due to increased financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 10 Takes On Parker Hannifin

Baird analyst Mircea Dobre maintains Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) with a Outperform and raises the price target from $622 to $654.

Baird Maintains Outperform on Parker Hannifin, Raises Price Target to $654

Investors with a lot of money to spend have taken a bullish stance on Parker Hannifin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PH, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Parker Hannifin.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $36,000, and 8, calls, for a total amount of $1,184,676.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $570.0 for Parker Hannifin over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Parker Hannifin's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Parker Hannifin's whale activity within a strike price range from $400.0 to $570.0 in the last 30 days. 
<h3>Parker Hannifin Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723149196_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$21.2</td>
<td>$18.0</td>
<td>$20.5</td>
<td>$550.00</td>
<td>$883.5K</td>
<td style="text-align: right;">582</td>
<td style="text-align: right;">525</td>
</tr>
<tr>
<td>PH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$20.2</td>
<td>$18.5</td>
<td>$18.96</td>
<td>$550.00</td>
<td>$78.1K</td>
<td style="text-align: right;">582</td>
<td style="text-align: right;">55</td>
</tr>
<tr>
<td>PH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$54.6</td>
<td>$49.3</td>
<td>$53.0</td>
<td>$560.00</td>
<td>$53.0K</td>
<td style="text-align: right;">14</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>PH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$53.0</td>
<td>$49.6</td>
<td>$52.66</td>
<td>$540.00</td>
<td>$52.6K</td>
<td style="text-align: right;">91</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>PH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$4.4</td>
<td>$3.6</td>
<td>$3.6</td>
<td>$540.00</td>
<td>$36.0K</td>
<td style="text-align: right;">208</td>
<td style="text-align: right;">106</td>
</tr>
</tbody>
</table>

<h3>About Parker Hannifin</h3>
Parker Hannifin is an industrial conglomerate operating through two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 17,100 independent distributors, and about 40% of its business occurs outside the United States.
Following our analysis of the options activities associated with Parker Hannifin, we pivot to a closer look at the company's own performance.
<h3>Current Position of Parker Hannifin</h3>
<ul>
<li>With a trading volume of 1,415,671, the price of PH is up by 10.84%, reaching $568.08.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 0 days from now.</li>
</ul>
<h3>What The Experts Say On Parker Hannifin</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $606.5.
<ul>
<li>An analyst from Wells Fargo persists with their Overweight rating on Parker Hannifin, maintaining a target price of $600. </li>
<li>Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Parker Hannifin, targeting a price of $613. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Parker Hannifin with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Looking At Parker Hannifin's Recent Unusual Options Activity

For the quarter ended June 2024, Parker-Hannifin (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) reported revenue of $5.19 billion, up 1.8% over the same period last year. EPS came in at $6.77, compared to $6.08 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.1 billion, representing a surprise of +1.76%. The company delivered an EPS surprise of +8.67%, with the consensus EPS estimate being $6.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company&#39;s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock&#39;s price performance.
Here is how Parker-Hannifin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>
<h2>Net sales- Aerospace Systems</h2>
	: $1.53 billion compared to the $1.43 billion average estimate based on three analysts. The reported number represents a change of +19.2% year over year.</li>
<li>
<h2>Net sales- Diversified Industrial- International</h2>
	: $1.43 billion compared to the $1.44 billion average estimate based on three analysts. The reported number represents a change of -5.4% year over year.</li>
<li>
<h2>Net sales- Diversified Industrial- North America</h2>
	: $2.23 billion versus the three-analyst average estimate of $2.22 billion. The reported number represents a year-over-year change of -3.2%.</li>
<li>
<h2>Adjusted Segment operating income- Diversified Industrial- North America</h2>
	: $505.52 million versus the three-analyst average estimate of $525.43 million.</li>
<li>
<h2>Adjusted Segment operating income- Aerospace Systems</h2>
	: $332.04 million versus the three-analyst average estimate of $380.37 million.</li>
<li>
<h2>Adjusted Segment operating income- Diversified Industrial- International</h2>
	: $311.56 million versus $336.90 million estimated by three analysts on average.</li>
</ul>
Shares of Parker-Hannifin have returned -2% over the past month versus the Zacks S&amp;P 500 composite&#39;s -6.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2319093/parker-hannifin-ph-q4-earnings-taking-a-look-at-key-metrics-versus-estimates?cid=CS-BENZ-FT-fundamental_analysis|nfm-2319093">To read this article on Zacks.com click here.</a>

Parker-Hannifin Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

U.S. stocks were higher, with the Dow Jones index gaining over 1% on Thursday.
Shares of Parker-Hannifin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>) rose sharply during Thursday's session following better-than-expected fourth-quarter financial results and <a href="https://www.benzinga.com/quote/PH">upbeat FY25 guidance.</a>
Parker Hannifin reported fourth-quarter sales growth of 2% year over year to $5.186 billion and +3% organic growth, beating the consensus of $5.082 billion.
Parker-Hannifin shares jumped 9.8% to $562.79 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) gained 42.2% to $25.27 after the company reported better-than-expected first-quarter financial results.</li>
<li>XPEL, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEL#NASDAQ">XPEL</a>) gained 35% to $42.65 after the company reported better-than-expected second-quarter financial results.</li>
<li>AxoGen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXGN#NASDAQ">AXGN</a>) shares surged 33.5% to $10.57 after the company reported better-than-expected second-quarter results.</li>
<li>CommScope Holding Company, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) climbed 30% to $2.7600 after the company reported better-than-expected second-quarter financial results.</li>
<li>DocGo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCGO#NASDAQ">DCGO</a>) rose 27.1% to $3.80 after the company reported better-than-expected quarterly sales.</li>
<li>Klaviyo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVYO#NYSE">KVYO</a>) gained 25.2% to $28.91 after the company reported better-than-expected second-quarter financial results. Also, the company issued FY24 and Q3 revenue guidance above estimates.</li>
<li>Leslie&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) rose 23.3% to $3.4050 following upbeat quarterly earnings.</li>
<li>Forward Air Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) gained 19.6% to $26.90 following second-quarter results.</li>
<li>Clean Energy Fuels Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLNE#NASDAQ">CLNE</a>) gained 19.2% to $2.8850 following quarterly earnings.</li>
<li>ICU Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICUI#NASDAQ">ICUI</a>) jumped 18.1% to $143.88 following strong quarterly results.</li>
<li>Under Armour, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UA#NYSE">UA</a>) gained 17.2% to $7.35 following first-quarter earnings.</li>
<li>SharkNinja, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SN#NYSE">SN</a>) rose 16% to $84.65 after the company reported better-than-expected quarterly financial results.</li>
<li>Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>) gained 15.5% to $46.61 after the company reported better-than-expected quarterly financial results.</li>
<li>Nova Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVMI#NASDAQ">NVMI</a>) jumped 15% to $208.24 after the company reported better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.</li>
<li>YETI Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YETI#NYSE">YETI</a>) gained 13.1% to $41.90 after the company reported better-than-expected second-quarter financial results and raised its FY24 adjusted EPS guidance above estimates.</li>
<li>Boot Barn Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) rose 11.4% to $128.93 after the company reported better-than-expected first-quarter financial results.</li>
<li>Sealed Air Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEE#NYSE">SEE</a>) gained 10.6% to $38.04 following quarterly results.</li>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose 9.1% to $842.14 after the company reported better-than-expected second-quarter financial results and raised its full-year guidance.</li>
<li>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) gained 5% to $69.63.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>

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