DPC’s (NYSE:DPC – Get Free Report) quiet period will expire on Tuesday, August 4th. DPC had issued 27,858,585 shares in its public offering on June 25th. The total size of the offering was $919,333,305 based on an initial share price of $33.00. During DPC’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on DPC shares. Wall Street Zen upgraded shares of DPC to a “hold” rating in a research report on Saturday, July 4th. Morgan Stanley began coverage on shares of DPC in a report on Monday, July 20th. They issued an “equal weight” rating and a $47.00 price objective on the stock. Rothschild & Co Redburn started coverage on shares of DPC in a research report on Monday, July 20th. They set a “buy” rating and a $53.50 price objective for the company. Jefferies Financial Group began coverage on shares of DPC in a report on Monday, July 20th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Zacks Research raised DPC to a “hold” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.38.
Get Our Latest Research Report on DPC
DPC Trading Down 1.7%
Insider Buying and Selling
In related news, Director Stanley A. Deal acquired 16,360 shares of the stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $33.00 per share, with a total value of $539,880.00. Following the completion of the transaction, the director owned 16,360 shares in the company, valued at $539,880. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry F. Brooks bought 10,604 shares of DPC stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $349,932.00. Following the acquisition, the director owned 10,604 shares of the company’s stock, valued at $349,932. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 2,297,621 shares of company stock worth $75,821,493 over the last ninety days.
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