Dole (NYSE:DOLE) Rating Lowered to Hold at Wall Street Zen

Dole (NYSE:DOLE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Dole presently has an average rating of “Hold” and an average price target of $16.00.

Dole Stock Up 1.6%

Shares of DOLE opened at $15.29 on Friday. The company’s 50-day moving average price is $15.38 and its 200 day moving average price is $14.42. Dole has a 12-month low of $12.52 and a 12-month high of $16.57. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.45 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.64.

Dole (NYSE:DOLE) last announced its earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Dole had a net margin of 0.56% and a return on equity of 7.81%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm posted $0.16 earnings per share. Dole’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that Dole will post 1.19 earnings per share for the current year.

Dole declared that its board has approved a stock buyback plan on Monday, November 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Dole

Large investors have recently added to or reduced their stakes in the business. Vident Advisory LLC lifted its holdings in Dole by 1.6% during the 4th quarter. Vident Advisory LLC now owns 42,190 shares of the company’s stock worth $632,000 after buying an additional 678 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Dole by 4.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,409 shares of the company’s stock worth $246,000 after acquiring an additional 753 shares during the period. California State Teachers Retirement System increased its position in shares of Dole by 22.8% during the fourth quarter. California State Teachers Retirement System now owns 5,087 shares of the company’s stock worth $76,000 after acquiring an additional 943 shares during the period. Osaic Holdings Inc. raised its stake in shares of Dole by 120.8% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $26,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Dole by 190.2% in the fourth quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock valued at $25,000 after acquiring an additional 1,101 shares in the last quarter.

About Dole

Dole plc is a global producer, marketer and distributor of fresh fruits and vegetables. The company’s product range includes bananas, pineapples, berries, grapes, salads and a variety of other fresh and packaged produce, sold under the Dole brand and through private-label arrangements. Dole’s operations span the full fresh-produce value chain, from farming and sourcing to packing, ripening, cold‑chain logistics and wholesale and retail distribution, supporting both retail grocery and foodservice customers.

The company traces its commercial heritage to the early 20th century Hawaiian pineapple business founded by James Dole and has evolved through subsequent corporate restructurings and combinations.