First Analysis Downgrades Parexel International Corp. (PRXL) to Equal Weight
Parexel International Corp. (NASDAQ:PRXL) was downgraded by research analysts at First Analysis from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday. They currently have a $62.00 price target on the stock. First Analysis’ price objective would indicate a potential upside of 8.28% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Evercore ISI reaffirmed a “buy” rating and set a $70.00 price objective (down previously from $79.00) on shares of Parexel International Corp. in a research note on Saturday, October 29th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Parexel International Corp. in a research note on Tuesday, September 27th. Citigroup Inc. raised their price objective on shares of Parexel International Corp. from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. SunTrust Banks Inc. cut shares of Parexel International Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $80.00 to $60.00 in a research note on Friday, November 11th. Finally, Zacks Investment Research raised shares of Parexel International Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.00.
Shares of Parexel International Corp. (NASDAQ:PRXL) opened at 57.26 on Thursday. The company’s 50-day moving average is $63.11 and its 200-day moving average is $64.19. Parexel International Corp. has a 1-year low of $51.16 and a 1-year high of $71.13. The stock has a market cap of $3.05 billion, a P/E ratio of 18.06 and a beta of 0.91.
Parexel International Corp. (NASDAQ:PRXL) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by $0.10. The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $525.15 million. Parexel International Corp. had a return on equity of 30.71% and a net margin of 7.09%. Parexel International Corp.’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Equities analysts expect that Parexel International Corp. will post $3.76 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PRXL. FMR LLC raised its position in Parexel International Corp. by 122.1% in the second quarter. FMR LLC now owns 1,001,051 shares of the company’s stock valued at $62,946,000 after buying an additional 550,338 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Parexel International Corp. during the third quarter valued at approximately $30,564,000. Morgan Stanley raised its position in Parexel International Corp. by 85.5% in the third quarter. Morgan Stanley now owns 716,525 shares of the company’s stock valued at $49,763,000 after buying an additional 330,254 shares in the last quarter. Boston Partners raised its position in Parexel International Corp. by 91.0% in the second quarter. Boston Partners now owns 635,912 shares of the company’s stock valued at $39,987,000 after buying an additional 302,991 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Parexel International Corp. during the second quarter valued at approximately $17,560,000. Institutional investors own 95.54% of the company’s stock.
About Parexel International Corp.
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company, which provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and advanced technology products and services to the pharmaceutical, biotechnology and medical device industries across the world.
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