Douglas Dynamics’ (PLOW) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Douglas Dynamics (NYSE:PLOW) in a research note issued to investors on Tuesday, Benzinga reports. DA Davidson currently has a $31.00 price target on the auto parts company’s stock.

Separately, Robert W. Baird restated a neutral rating and issued a $25.00 target price (down previously from $36.00) on shares of Douglas Dynamics in a report on Monday, April 8th.

Douglas Dynamics Stock Performance

Douglas Dynamics stock opened at $23.32 on Tuesday. The firm has a fifty day simple moving average of $23.47 and a two-hundred day simple moving average of $26.11. The company has a quick ratio of 1.01, a current ratio of 2.06 and a debt-to-equity ratio of 0.82. Douglas Dynamics has a twelve month low of $21.35 and a twelve month high of $35.39. The company has a market capitalization of $538.34 million, a PE ratio of 19.93, a P/E/G ratio of 1.11 and a beta of 1.14.

Douglas Dynamics (NYSE:PLOW) last released its earnings results on Monday, February 26th. The auto parts company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.12. Douglas Dynamics had a return on equity of 12.95% and a net margin of 4.90%. The company had revenue of $134.25 million during the quarter, compared to analyst estimates of $134.00 million. Research analysts expect that Douglas Dynamics will post 1.46 EPS for the current year.

Douglas Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.295 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.18 annualized dividend and a dividend yield of 5.06%. Douglas Dynamics’s payout ratio is presently 100.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLOW. Conestoga Capital Advisors LLC lifted its holdings in Douglas Dynamics by 16.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,191,913 shares of the auto parts company’s stock worth $65,056,000 after buying an additional 311,799 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Douglas Dynamics during the first quarter valued at approximately $7,055,000. Punch & Associates Investment Management Inc. raised its holdings in shares of Douglas Dynamics by 32.2% during the third quarter. Punch & Associates Investment Management Inc. now owns 364,773 shares of the auto parts company’s stock valued at $11,009,000 after acquiring an additional 88,804 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Douglas Dynamics by 260.6% in the first quarter. BNP Paribas Financial Markets now owns 90,001 shares of the auto parts company’s stock worth $2,171,000 after acquiring an additional 65,042 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Douglas Dynamics by 32.8% in the third quarter. Wellington Management Group LLP now owns 259,918 shares of the auto parts company’s stock valued at $7,844,000 after acquiring an additional 64,200 shares in the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.

About Douglas Dynamics

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.