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The Procter & Gamble Company Given Buy Rating at Bank of America (PG)

The Procter & Gamble Company (NYSE:PG)‘s stock had its “buy” rating reiterated by Bank of America in a research note issued on Friday. They currently have a $91.00 price target on the stock, up from their previous price target of $88.00. Bank of America’s price target suggests a potential upside of 8.77% from the company’s current price.

The Procter & Gamble Company (NYSE:PG) traded up 1.53% during mid-day trading on Friday, hitting $84.94. 6,230,407 shares of the company’s stock traded hands. The Procter & Gamble Company has a one year low of $75.26 and a one year high of $85.82. The stock has a 50-day moving average of $83.7 and a 200-day moving average of $81.33. The company has a market cap of $230.0 billion and a P/E ratio of 20.87. The Procter & Gamble Company also saw a large drop in short interest in September. As of September 15th, there was short interest totalling 25,645,271 shares, a drop of 10.6% from the August 29th total of 28,682,652 shares. Based on an average daily volume of 6,126,356 shares, the short-interest ratio is currently 4.2 days. Currently, 0.9% of the shares of the stock are short sold.

The Procter & Gamble Company (NYSE:PG) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.04. The company had revenue of $20.16 billion for the quarter, compared to the consensus estimate of $20.48 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post $4.43 EPS for the current fiscal year.

PG has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of The Procter & Gamble Company in a research note on Monday, September 15th. They now have a $87.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Procter & Gamble Company in a research note on Monday, August 4th. They now have a $94.00 price target on the stock, up previously from $92.00. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $91.17.

The Procter & Gamble Company (NYSE:PG) is focused on providing consumer packaged goods.

Originally posted in Mideasttime.

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