Dover (NYSE:DOV) Stock Price Expected to Rise, Mizuho Analyst Says

Dover (NYSE:DOV) had its price objective lifted by stock analysts at Mizuho from $215.00 to $225.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective would suggest a potential upside of 27.65% from the stock’s previous close.

Several other analysts also recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $176.00 target price on shares of Dover in a report on Friday, April 25th. Barclays boosted their price objective on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Citigroup lowered their target price on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Morgan Stanley started coverage on Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.58.

Dover Trading Down 1.4%

Dover stock opened at $176.27 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a 50-day simple moving average of $173.47 and a 200 day simple moving average of $185.24. The stock has a market capitalization of $24.17 billion, a P/E ratio of 9.06, a PEG ratio of 2.06 and a beta of 1.27. Dover has a 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $1.95 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts expect that Dover will post 9.45 earnings per share for the current year.

Institutional Investors Weigh In On Dover

A number of large investors have recently bought and sold shares of DOV. Inspire Investing LLC lifted its holdings in shares of Dover by 8.7% during the 1st quarter. Inspire Investing LLC now owns 14,640 shares of the industrial products company’s stock worth $2,572,000 after acquiring an additional 1,170 shares during the period. Strs Ohio bought a new stake in Dover during the first quarter worth $40,148,000. Acadian Asset Management LLC boosted its holdings in shares of Dover by 1,034.4% in the 1st quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock valued at $6,012,000 after purchasing an additional 31,219 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Dover by 14.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 24,321 shares of the industrial products company’s stock valued at $4,273,000 after purchasing an additional 3,082 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Dover by 0.4% in the 1st quarter. IFM Investors Pty Ltd now owns 25,076 shares of the industrial products company’s stock valued at $4,405,000 after purchasing an additional 101 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.