Citigroup Lowers Dover (NYSE:DOV) Price Target to $201.00

Dover (NYSE:DOV) had its target price cut by equities researchers at Citigroup from $244.00 to $201.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential upside of 23.11% from the company’s previous close.

A number of other equities research analysts also recently weighed in on DOV. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday. They issued an “equal weight” rating and a $185.00 price objective for the company. UBS Group cut their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Dover Stock Down 0.2 %

Dover stock opened at $163.27 on Monday. The firm has a 50 day moving average price of $183.16 and a two-hundred day moving average price of $191.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover has a 52-week low of $143.04 and a 52-week high of $222.31. The firm has a market cap of $22.38 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 2.06 and a beta of 1.24.

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

Institutional Trading of Dover

Several institutional investors and hedge funds have recently made changes to their positions in DOV. Financial Life Planners purchased a new stake in Dover in the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in shares of Dover in the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC increased its position in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new stake in Dover during the fourth quarter worth $38,000. Finally, Orion Capital Management LLC bought a new stake in Dover during the fourth quarter worth $43,000. Hedge funds and other 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.