Dover Corp (DOV) Given Average Recommendation of “Hold” by Analysts
Shares of Dover Corp (NYSE:DOV) have been given an average recommendation of “Hold” by the eighteen analysts that are covering the firm, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $96.60.
A number of analysts recently weighed in on DOV shares. JPMorgan Chase & Co. upgraded shares of Dover from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $105.00 in a report on Wednesday, September 20th. Morgan Stanley raised their target price on shares of Dover from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, September 19th. SunTrust Banks restated a “hold” rating and set a $90.00 target price on shares of Dover in a report on Thursday, October 12th. Stifel Nicolaus restated a “hold” rating and set a $92.00 target price on shares of Dover in a report on Tuesday, October 17th. Finally, Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a report on Monday, October 23rd.
In related news, VP Paul Goldberg sold 4,400 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $95.25, for a total value of $419,100.00. Following the completion of the transaction, the vice president now owns 4,070 shares of the company’s stock, valued at approximately $387,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Stubbs sold 8,495 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $96.30, for a total transaction of $818,068.50. Following the completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $26,515,627.20. The disclosure for this sale can be found here. Insiders sold a total of 65,276 shares of company stock valued at $6,234,042 in the last ninety days. Company insiders own 2.50% of the company’s stock.
Shares of Dover (DOV) traded up $0.63 during trading hours on Monday, reaching $104.14. 472,800 shares of the company were exchanged, compared to its average volume of 846,067. The company has a market capitalization of $16,220.00, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29. Dover has a 1 year low of $75.51 and a 1 year high of $104.56. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70.
Dover (NYSE:DOV) last issued its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. research analysts predict that Dover will post 3.94 earnings per share for the current fiscal year.
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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