Zacks Research Upgrades Dole (NYSE:DOLE) to “Hold”

Dole (NYSE:DOLE) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 target price (down from $18.00) on shares of Dole in a report on Monday, March 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Dole has a consensus rating of “Hold” and an average target price of $15.50.

Dole Stock Performance

Shares of DOLE stock opened at $14.13 on Monday. The company’s fifty day moving average price is $14.21 and its 200-day moving average price is $14.80. The stock has a market cap of $1.35 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.63. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. Dole has a 12 month low of $12.52 and a 12 month high of $16.57.

Dole (NYSE:DOLE) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Dole had a return on equity of 7.63% and a net margin of 0.46%.The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Dole will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Dole

Large investors have recently modified their holdings of the stock. Vident Advisory LLC increased its position in Dole by 1.6% in the fourth quarter. Vident Advisory LLC now owns 42,190 shares of the company’s stock worth $632,000 after buying an additional 678 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Dole by 4.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,409 shares of the company’s stock valued at $246,000 after buying an additional 753 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Dole by 13.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,902 shares of the company’s stock valued at $95,000 after buying an additional 803 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Dole by 22.8% during the 4th quarter. California State Teachers Retirement System now owns 5,087 shares of the company’s stock valued at $76,000 after acquiring an additional 943 shares during the period. Finally, Amiral Gestion grew its stake in shares of Dole by 5.5% during the 1st quarter. Amiral Gestion now owns 19,180 shares of the company’s stock valued at $276,000 after acquiring an additional 1,000 shares during the period.

About Dole

Dole plc is a global producer, marketer and distributor of fresh fruits and vegetables. The company’s product range includes bananas, pineapples, berries, grapes, salads and a variety of other fresh and packaged produce, sold under the Dole brand and through private-label arrangements. Dole’s operations span the full fresh-produce value chain, from farming and sourcing to packing, ripening, cold?chain logistics and wholesale and retail distribution, supporting both retail grocery and foodservice customers.

The company traces its commercial heritage to the early 20th century Hawaiian pineapple business founded by James Dole and has evolved through subsequent corporate restructurings and combinations.