DA Davidson Reaffirms Buy Rating for Douglas Dynamics (NYSE:PLOW)

DA Davidson reissued their buy rating on shares of Douglas Dynamics (NYSE:PLOW) in a research report report published on Tuesday,Benzinga reports. DA Davidson currently has a $32.00 target price on the auto parts company’s stock.

PLOW has been the subject of a number of other research reports. StockNews.com downgraded shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird lowered their price objective on Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Douglas Dynamics Price Performance

Douglas Dynamics stock opened at $27.30 on Tuesday. Douglas Dynamics has a 52-week low of $21.31 and a 52-week high of $30.98. The company has a quick ratio of 1.13, a current ratio of 2.14 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average is $25.00 and its 200 day moving average is $25.85. The company has a market cap of $630.44 million, a price-to-earnings ratio of 11.87, a PEG ratio of 1.14 and a beta of 1.21.

Douglas Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.295 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.18 annualized dividend and a dividend yield of 4.32%. Douglas Dynamics’s dividend payout ratio (DPR) is presently 50.43%.

Hedge Funds Weigh In On Douglas Dynamics

Several hedge funds have recently added to or reduced their stakes in the company. Ararat Capital Management LP lifted its stake in Douglas Dynamics by 40.6% in the fourth quarter. Ararat Capital Management LP now owns 807,186 shares of the auto parts company’s stock worth $19,074,000 after purchasing an additional 233,255 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Douglas Dynamics by 15.9% during the 3rd quarter. Pzena Investment Management LLC now owns 1,624,820 shares of the auto parts company’s stock worth $44,813,000 after acquiring an additional 222,945 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Douglas Dynamics by 149.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 353,532 shares of the auto parts company’s stock valued at $9,750,000 after acquiring an additional 211,573 shares during the last quarter. DF Dent & Co. Inc. increased its stake in Douglas Dynamics by 26.3% in the third quarter. DF Dent & Co. Inc. now owns 855,642 shares of the auto parts company’s stock worth $23,599,000 after purchasing an additional 178,018 shares during the period. Finally, Ranger Investment Management L.P. bought a new stake in shares of Douglas Dynamics during the fourth quarter worth $4,173,000. 91.85% of the stock is currently owned by institutional investors.

Douglas Dynamics Company Profile

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light trucks and heavy duty trucks, as well as various related parts and accessories.