Dover (NYSE:DOV) Raised to Buy at Wall Street Zen

Dover (NYSE:DOV) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other analysts also recently issued reports on DOV. Oppenheimer reduced their price target on shares of Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Robert W. Baird set a $235.00 price target on shares of Dover in a research report on Friday. Citigroup reissued a “buy” rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Royal Bank Of Canada lifted their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $212.00.

Dover Stock Performance

NYSE:DOV opened at $177.64 on Friday. The company has a fifty day moving average of $172.13 and a 200-day moving average of $176.10. The firm has a market capitalization of $24.36 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. Dover has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, sell-side analysts anticipate that Dover will post 9.45 EPS for the current year.

Hedge Funds Weigh In On Dover

Hedge funds have recently bought and sold shares of the company. AdvisorShares Investments LLC purchased a new position in Dover during the 2nd quarter worth $30,000. North Capital Inc. purchased a new position in Dover during the 1st quarter worth $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Dover during the 2nd quarter worth $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Dover in the 1st quarter worth about $31,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.