Douglas Dynamics Stock Price Up 5.6% Following Better-Than-Expected Earnings (PLOW)
Shares of Douglas Dynamics (NASDAQ:PLOW) rose 5.6% on Tuesday following a better than expected earnings announcement, ARN reports. The company traded as high as $18.29 and last traded at $18.02, with a volume of 88,106 shares changing hands. The stock had previously closed at $17.07.
The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.21. The company had revenue of $88.20 million for the quarter, compared to the consensus estimate of $77.70 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 60.1% on a year-over-year basis.
Separately, analysts at Zacks downgraded shares of Douglas Dynamics from an “outperform” rating to a “neutral” rating in a research note on Monday, July 7th. They now have a $19.90 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Douglas Dynamics has a consensus rating of “Hold” and a consensus target price of $17.30.
The stock has a 50-day moving average of $17.65 and a 200-day moving average of $16.97. The company has a market cap of $396.2 million and a price-to-earnings ratio of 23.45.
Douglas Dynamics, Inc is engaged in the design, manufacture and sale of snow and ice control equipment for light trucks, which consists of snowplows, sand and salt spreaders, and related parts and accessories.
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