Citigroup Forecasts Strong Price Appreciation for DuPont de Nemours (NYSE:DD) Stock

DuPont de Nemours (NYSE:DD) had its target price hoisted by equities research analysts at Citigroup from $47.00 to $50.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective points to a potential upside of 4.60% from the company’s current price.

DD has been the subject of a number of other research reports. BMO Capital Markets lowered their price objective on shares of DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. KeyCorp raised their price target on DuPont de Nemours from $45.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft cut their price objective on DuPont de Nemours from $90.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Royal Bank Of Canada increased their target price on DuPont de Nemours from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on DuPont de Nemours from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, DuPont de Nemours has an average rating of “Moderate Buy” and an average price target of $45.99.

DuPont de Nemours Stock Up 5.5%

Shares of DD opened at $47.80 on Tuesday. The company’s 50-day moving average price is $42.07 and its 200 day moving average price is $36.42. DuPont de Nemours has a 12-month low of $22.50 and a 12-month high of $48.03. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.30. The firm has a market cap of $20.03 billion, a P/E ratio of -25.98, a price-to-earnings-growth ratio of 3.36 and a beta of 1.10.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Thursday, November 6th. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.05. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.12 billion. DuPont de Nemours had a negative net margin of 6.17% and a positive return on equity of 7.81%. DuPont de Nemours’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 earnings per share. On average, sell-side analysts forecast that DuPont de Nemours will post 4.38 earnings per share for the current year.

DuPont de Nemours announced that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Erik T. Hoover sold 6,005 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $39.79, for a total transaction of $238,938.95. Following the completion of the transaction, the senior vice president owned 112,101 shares in the company, valued at approximately $4,460,498.79. The trade was a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lori Koch sold 9,011 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $39.46, for a total value of $355,574.06. Following the completion of the sale, the chief executive officer owned 288,326 shares in the company, valued at approximately $11,377,343.96. This represents a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DuPont de Nemours

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in DuPont de Nemours by 1.1% during the third quarter. Blue Trust Inc. now owns 11,990 shares of the basic materials company’s stock worth $934,000 after purchasing an additional 127 shares during the last quarter. Pacifica Partners Inc. lifted its position in shares of DuPont de Nemours by 27.0% during the 3rd quarter. Pacifica Partners Inc. now owns 602 shares of the basic materials company’s stock worth $47,000 after buying an additional 128 shares in the last quarter. Sagespring Wealth Partners LLC lifted its position in shares of DuPont de Nemours by 3.9% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 3,729 shares of the basic materials company’s stock worth $256,000 after buying an additional 140 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of DuPont de Nemours by 64.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Finally, Old Port Advisors grew its holdings in shares of DuPont de Nemours by 4.9% in the third quarter. Old Port Advisors now owns 3,148 shares of the basic materials company’s stock valued at $245,000 after acquiring an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

About DuPont de Nemours

DuPont de Nemours (NYSE: DD) is a global science and engineering company that develops and supplies specialty materials, chemicals and industrial biosciences for a wide range of markets. Headquartered in Wilmington, Delaware, the company traces its origins to 1802 and has evolved through more than two centuries of innovation. In recent history DuPont participated in a major combination with Dow Chemical and subsequent reorganization that refocused the company on differentiated, specialty businesses built around science-based solutions.

DuPont’s operations center on advanced materials and technologies used by manufacturers and OEMs in industries such as transportation, electronics, construction, industrial manufacturing and worker safety.