Barrington Research Lowers Dolby Laboratories (NYSE:DLB) Price Target to $90.00

Dolby Laboratories (NYSE:DLBGet Rating) had its target price dropped by equities research analysts at Barrington Research from $115.00 to $90.00 in a research report issued on Thursday, The Fly reports. Barrington Research’s target price suggests a potential upside of 19.62% from the company’s previous close.

DLB has been the subject of a number of other reports. StockNews.com cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet raised Dolby Laboratories from a “c+” rating to a “b-” rating in a research note on Friday, April 22nd. Finally, Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 target price on the stock in a research note on Monday, March 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Dolby Laboratories has an average rating of “Buy” and a consensus price target of $83.00.

NYSE:DLB opened at $75.24 on Thursday. The company’s 50-day moving average is $75.78 and its two-hundred day moving average is $82.62. Dolby Laboratories has a 1-year low of $69.18 and a 1-year high of $104.25. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.65 and a beta of 0.99.

Dolby Laboratories (NYSE:DLBGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.10. Dolby Laboratories had a return on equity of 9.72% and a net margin of 17.14%. The company had revenue of $334.37 million during the quarter, compared to analyst estimates of $332.51 million. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Dolby Laboratories will post 2.73 EPS for the current year.

In other news, SVP John D. Couling sold 500 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $72.61, for a total transaction of $36,305.00. Following the sale, the senior vice president now owns 80,172 shares of the company’s stock, valued at $5,821,288.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.06% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Dolby Laboratories in the 4th quarter valued at approximately $30,000. GHP Investment Advisors Inc. purchased a new position in Dolby Laboratories in the first quarter valued at $31,000. Consolidated Planning Corp acquired a new stake in Dolby Laboratories in the third quarter valued at $35,000. Riggs Asset Managment Co. Inc. purchased a new stake in Dolby Laboratories during the 1st quarter worth about $39,000. Finally, Zullo Investment Group Inc. acquired a new position in shares of Dolby Laboratories during the 4th quarter worth about $39,000. 59.34% of the stock is owned by institutional investors and hedge funds.

About Dolby Laboratories (Get Rating)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications.; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

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