Donaldson Co. Rating Lowered to Neutral at Bank of America Corp. (DCI)
Donaldson Co. (NYSE:DCI) was downgraded by research analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report released on Tuesday, Analyst Ratings.Net reports. They currently have a $42.00 target price on the stock, up from their previous target price of $41.00. Bank of America Corp.’s target price suggests a potential upside of 3.70% from the stock’s previous close.
The analysts wrote, “As DCI approaches our PO of $41, we downgrade the stock from Buy to Underperform. Based on our above-consensus EPS, DCI stands out as one of the most expensive names in our coverage, despite having below-average EPS growth over the next two years. Although we view Donaldson as an excellent company, and we expect investors to continue paying a premium multiple for the more stable, high-quality industrial name in the uncertain macro environment, we see more risk than upside to the stock at the current trading level near-term.”
Donaldson Co. (NYSE:DCI) traded up 0.25% on Tuesday, hitting $40.50. The stock had a trading volume of 463,072 shares. Donaldson Co. has a 1-year low of $30.90 and a 1-year high of $39.36. The stock’s 50-day moving average is $36.61 and its 200-day moving average is $36.4. The company has a market cap of $5.917 billion and a P/E ratio of 24.63.
Donaldson Co. (NYSE:DCI) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $620.54 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. Analysts expect that Donaldson Co. will post $1.77 EPS for the current fiscal year.
Separately, analysts at BMO Capital Markets downgraded shares of Donaldson Co. from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday, July 31st. They now have a $35.00 price target on the stock.
Donaldson Company, Inc (NYSE:DCI) is a worldwide manufacturer of filtration systems and replacement parts.
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