Wells Fargo Sticks to Its Buy Rating for Johnson Controls (JCI)

In a report released on February 19, Joe O’Dea from Wells Fargo maintained a Buy rating on Johnson Controls, with a price target of $145.00. The company’s shares closed last Friday at $142.70.

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O’Dea covers the Industrials sector, focusing on stocks such as Dover, Honeywell International, and Parker Hannifin. According to TipRanks, O’Dea has an average return of 12.0% and a 63.47% success rate on recommended stocks.

In addition to Wells Fargo, Johnson Controls also received a Buy from Bank of America Securities’s Andrew Obin in a report issued on February 6. However, on February 20, Barclays maintained a Hold rating on Johnson Controls (NYSE: JCI).

Based on Johnson Controls’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.8 billion and a net profit of $524 million. In comparison, last year the company earned a revenue of $5.43 billion and had a net profit of $419 million

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of JCI in relation to earlier this year. Earlier this month, Todd M Grabowski, the VP and President, Americas of JCI sold 6,050.00 shares for a total of $816,119.50.