Zacks Investment Research upgraded shares of Dover (NYSE:DOV) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $119.00 price objective on the industrial products company’s stock.
According to Zacks, “Dover’s fourth-quarter 2017 earnings and revenues improved on a year-over-year basis and beat the respective Zacks Consensus Estimate. This can be attributed to strong global markets along with cost and productivity improvements. Earnings per share guidance range for 2018 is pegged at $5.73-$5.93, reflecting a rise of 19% year over year. Dover will benefit from strong momentum in its segments and the recently passed Tax Cuts and Jobs Act. The separation of its Wellsite business and the sale of consumer and industrial winch business of Warn will help in streamlining portfolio and investing in market-leading platforms with strong margin profiles. Dover will benefit from cost saving actions, significant drilling activity and fast-growing digital textile printing market. The company recently acquired Ettlinger to boost presence in the plastics and polymers processing equipment industry. The stock has outperformed its industry over the past year.”
A number of other equities analysts have also weighed in on the stock. Seaport Global Securities reissued a hold rating and issued a $110.00 price objective on shares of Dover in a research report on Friday. BMO Capital Markets upped their price target on shares of Dover from $116.00 to $118.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Morgan Stanley upped their price target on shares of Dover from $110.00 to $113.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. SunTrust Banks upped their price target on shares of Dover to $106.00 and gave the stock a hold rating in a research report on Wednesday, January 31st. Finally, UBS Group started coverage on shares of Dover in a research report on Monday, January 22nd. They set a neutral rating for the company. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $104.42.
Dover (NYSE DOV) opened at $98.57 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01. The firm has a market cap of $15,810.00, a P/E ratio of 19.14, a PEG ratio of 1.41 and a beta of 1.28. Dover has a 52-week low of $75.51 and a 52-week high of $109.06.
Dover (NYSE:DOV) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. analysts forecast that Dover will post 5.63 EPS for the current year.
In other Dover news, SVP Stephen Gary Kennon sold 2,359 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $94.40, for a total transaction of $222,689.60. Following the completion of the sale, the senior vice president now directly owns 5,192 shares in the company, valued at $490,124.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Goldberg sold 2,430 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $93.50, for a total transaction of $227,205.00. The disclosure for this sale can be found here. Insiders have sold 10,876 shares of company stock valued at $1,026,090 in the last ninety days. 2.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Nordea Investment Management AB grew its stake in Dover by 2.8% during the second quarter. Nordea Investment Management AB now owns 8,009 shares of the industrial products company’s stock worth $642,000 after buying an additional 215 shares during the period. Advisor Group Inc. grew its stake in Dover by 23.2% during the second quarter. Advisor Group Inc. now owns 6,258 shares of the industrial products company’s stock worth $500,000 after buying an additional 1,179 shares during the period. Numeric Investors LLC purchased a new stake in Dover during the second quarter worth approximately $594,000. AHL Partners LLP grew its stake in Dover by 39.2% during the second quarter. AHL Partners LLP now owns 11,702 shares of the industrial products company’s stock worth $939,000 after buying an additional 3,293 shares during the period. Finally, Royal Bank of Canada grew its stake in Dover by 16.2% during the second quarter. Royal Bank of Canada now owns 271,283 shares of the industrial products company’s stock worth $21,760,000 after buying an additional 37,817 shares during the period. Institutional investors own 84.45% of the company’s stock.
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Dover Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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