Barclays Has Lowered Expectations for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective cut by equities research analysts at Barclays from $213.00 to $205.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target points to a potential upside of 14.42% from the stock’s previous close.

Other analysts also recently issued reports about the company. UBS Group decreased their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group lifted their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Price Performance

Shares of NYSE:DOV opened at $179.16 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The stock has a market cap of $24.56 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The stock’s fifty day simple moving average is $194.03 and its two-hundred day simple moving average is $193.59. Dover has a 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts forecast that Dover will post 9.45 EPS for the current fiscal year.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerity Partners LLC grew its position in shares of Dover by 5.0% during the 3rd quarter. Cerity Partners LLC now owns 54,187 shares of the industrial products company’s stock valued at $10,390,000 after purchasing an additional 2,592 shares in the last quarter. Swedbank AB grew its position in Dover by 76.6% during the third quarter. Swedbank AB now owns 15,053 shares of the industrial products company’s stock worth $2,886,000 after buying an additional 6,529 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Dover by 7.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,145 shares of the industrial products company’s stock worth $4,246,000 after acquiring an additional 1,463 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Dover in the 3rd quarter valued at about $293,000. Finally, DRW Securities LLC bought a new stake in shares of Dover during the 3rd quarter valued at about $265,000. Institutional investors own 84.46% of the company’s stock.

Dover Company Profile

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.