Dow Chemical Co (DOW) Receives Buy Rating from Royal Bank Of Canada
Dow Chemical Co (NYSE:DOW)‘s stock had its “buy” rating reissued by analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday. They currently have a $78.00 price objective on the basic materials company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 17.03% from the company’s previous close.
Several other equities research analysts also recently commented on DOW. UBS AG reissued a “buy” rating and set a $72.00 target price on shares of Dow Chemical in a research report on Monday, May 15th. Cowen and Company boosted their target price on shares of Dow Chemical from $47.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 31st. BidaskClub raised shares of Dow Chemical from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded shares of Dow Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Alembic Global Advisors set a $85.00 price objective on shares of Dow Chemical and gave the stock a “buy” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $71.62.
Shares of Dow Chemical (DOW) remained flat at $66.65 during trading on Wednesday. 43,802,070 shares of the stock traded hands. Dow Chemical has a 1-year low of $51.57 and a 1-year high of $67.50. The stock’s 50-day moving average is $64.79 and its 200-day moving average is $63.46. The firm has a market capitalization of $81.54 billion, a P/E ratio of 28.54 and a beta of 1.13.
Dow Chemical (NYSE:DOW) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.01 by $0.07. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $13.60 billion. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. Equities analysts expect that Dow Chemical will post $4.11 EPS for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOW. First Command Bank boosted its stake in Dow Chemical by 36.9% in the second quarter. First Command Bank now owns 1,617 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 436 shares during the last quarter. Perkins Coie Trust Co boosted its stake in Dow Chemical by 33.7% in the second quarter. Perkins Coie Trust Co now owns 1,906 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 480 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Dow Chemical in the second quarter valued at about $121,000. Financial Architects Inc boosted its stake in Dow Chemical by 0.4% in the second quarter. Financial Architects Inc now owns 2,290 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 10 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in Dow Chemical by 49.3% in the second quarter. MCF Advisors LLC now owns 2,331 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.
About Dow Chemical
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