Dover (DOV) Stock Rating Upgraded by Zacks Investment Research

Dover (NYSE:DOV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $116.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.10% from the company’s current price.

According to Zacks, “Dover’s third-quarter ended with robust bookings and backlog that bodes well for the fourth quarter. Dover guides 2017 adjusted EPS in the $4.23-$4.33 range, an increase of 38% year over year at the mid-point. The company’s separation of its Wellsite business and the sale of consumer and industrial winch business of Warn will help in streamlining portfolio. It will aid the company to invest in market-leading platforms with strong margin profiles. Dover will benefit from cost saving actions, significant drilling activity and fast-growing digital textile printing market. Dover recently acquired Ettlinger Kunststoffmaschinen GmbH and its affiliated entities, in a bid to boost its presence in the plastics and polymers processing equipment industry. The stock has outperformed its industry in the last six months. “

Several other brokerages have also recently commented on DOV. SunTrust Banks reiterated a “hold” rating and issued a $90.00 target price on shares of Dover in a report on Thursday, October 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $112.00 target price (up from $100.00) on shares of Dover in a report on Tuesday. ValuEngine cut Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Royal Bank of Canada reiterated a “hold” rating and issued a $105.00 target price on shares of Dover in a report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $106.00 target price (up from $97.00) on shares of Dover in a report on Monday, October 2nd. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $98.75.

Dover (NYSE DOV) traded up $0.42 during trading hours on Friday, hitting $104.41. The stock had a trading volume of 1,229,918 shares, compared to its average volume of 848,662. The company has a market capitalization of $16,310.00, a PE ratio of 24.28, a P/E/G ratio of 1.77 and a beta of 1.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. Dover has a 52 week low of $75.51 and a 52 week high of $104.95.

Dover (NYSE:DOV) last announced its earnings results on Thursday, October 19th. The industrial products company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. Dover had a return on equity of 14.10% and a net margin of 8.91%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. equities analysts forecast that Dover will post 3.94 earnings per share for the current fiscal year.

In other Dover news, VP William T. Bosway sold 6,087 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.66, for a total transaction of $576,195.42. Following the transaction, the vice president now directly owns 21,877 shares in the company, valued at approximately $2,070,876.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stephen Gary Kennon sold 2,359 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $94.40, for a total value of $222,689.60. Following the transaction, the senior vice president now owns 5,192 shares in the company, valued at $490,124.80. The disclosure for this sale can be found here. Insiders have sold a total of 65,276 shares of company stock worth $6,234,042 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC raised its position in shares of Dover by 0.4% during the second quarter. Flinton Capital Management LLC now owns 6,608 shares of the industrial products company’s stock worth $530,000 after purchasing an additional 28 shares during the period. Veritable L.P. raised its position in shares of Dover by 1.1% during the second quarter. Veritable L.P. now owns 4,044 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 43 shares during the period. D.A. Davidson & CO. raised its position in shares of Dover by 0.7% during the second quarter. D.A. Davidson & CO. now owns 7,190 shares of the industrial products company’s stock worth $576,000 after purchasing an additional 48 shares during the period. MML Investors Services LLC raised its position in shares of Dover by 1.5% during the second quarter. MML Investors Services LLC now owns 3,262 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 49 shares during the period. Finally, Sentry Investment Management LLC raised its position in shares of Dover by 1.1% during the second quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock worth $874,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 84.49% of the company’s stock.

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Dover Company Profile

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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