DPC Holdings PLC’s (NYSE:DPC) Quiet Period Will End on August 4th

DPC’s (NYSE:DPC) quiet period is set to expire on Tuesday, August 4th. DPC had issued 27,858,585 shares in its IPO on June 25th. The total size of the offering was $919,333,305 based on an initial share price of $33.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada began coverage on shares of DPC in a research report on Monday, July 20th. They set an “outperform” rating and a $53.00 target price for the company. Jefferies Financial Group started coverage on DPC in a research note on Monday, July 20th. They issued a “buy” rating and a $56.00 price objective on the stock. Morgan Stanley started coverage on DPC in a research report on Monday, July 20th. They set an “equal weight” rating and a $47.00 price objective for the company. Rothschild & Co Redburn started coverage on DPC in a research note on Monday, July 20th. They set a “buy” rating and a $53.50 target price for the company. Finally, Wall Street Zen upgraded DPC to a “hold” rating in a research note on Saturday, July 4th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.38.

DPC Stock Performance

Shares of DPC stock opened at $48.92 on Tuesday. DPC has a 1 year low of $42.90 and a 1 year high of $53.50.

Insider Transactions at DPC

In related news, Director Henry F. Brooks acquired 10,604 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were bought at an average price of $33.00 per share, for a total transaction of $349,932.00. Following the acquisition, the director owned 10,604 shares in the company, valued at $349,932. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Taiwo K. Danmola acquired 60,604 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $33.00 per share, with a total value of $1,999,932.00. Following the transaction, the director directly owned 60,604 shares of the company’s stock, valued at $1,999,932. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 2,297,621 shares of company stock worth $75,821,493.