Barclays Issues Positive Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price target lifted by equities research analysts at Barclays from $205.00 to $213.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would suggest a potential upside of 3.77% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price objective on shares of Dover from $212.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Citigroup dropped their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Mizuho boosted their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company cut their price objective on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average price target of $213.27.

Dover Trading Up 4.0 %

Shares of DOV opened at $205.27 on Friday. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. Dover has a 1-year low of $148.45 and a 1-year high of $214.57. The company has a 50-day moving average of $195.60 and a 200 day moving average of $190.22.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. On average, research analysts expect that Dover will post 8.17 EPS for the current year.

Institutional Investors Weigh In On Dover

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in Dover in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Dover during the third quarter valued at about $33,000. R Squared Ltd acquired a new position in shares of Dover in the 4th quarter worth approximately $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover during the 4th quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.