Dole (NYSE:DOLE) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Dole from Hold to Strong Sell. Other analyst views are mixed, with MarketBeat reporting a consensus Hold rating and an average price target of $14.
• Dole reported quarterly EPS of $0.16, missing analysts’ $0.32 estimate by $0.16; revenue of $2.37 billion matched consensus.
• Shares opened at $14.22, within a 52-week range of $12.59 to $16.57.

Dole (NYSE:DOLE - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Wednesday, Zacks reports.

Several other equities analysts also recently issued reports on DOLE. Deutsche Bank set a $14.00 price objective on Dole in a research report on Tuesday, August 11th. Freedom Broker started coverage on Dole in a research report on Wednesday, November 4th. They issued a "strong-buy" rating on the stock. Finally, Weiss Ratings downgraded Dole from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Dole presently has a consensus rating of "Hold" and an average price target of $14.00.

Dole Stock Performance

DOLE stock opened at $14.22 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. Dole has a 1 year low of $12.59 and a 1 year high of $16.57. The stock's fifty day moving average is $13.32 and its two-hundred day moving average is $14.25. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.63 and a beta of 0.75.

Dole (NYSE:DOLE - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.16). Dole had a net margin of 0.97% and a return on equity of 7.05%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, research analysts predict that Dole will post 1.17 EPS for the current year.

Institutional Trading of Dole

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in shares of Dole by 24.8% in the first quarter. Renaissance Technologies LLC now owns 753,774 shares of the company's stock worth $10,771,000 after acquiring an additional 149,674 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Dole during the third quarter valued at approximately $2,293,000. SummerHaven Investment Management LLC purchased a new stake in shares of Dole in the 3rd quarter valued at approximately $782,000. Dimensional Fund Advisors LP lifted its position in shares of Dole by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company's stock valued at $71,438,000 after acquiring an additional 659,892 shares in the last quarter. Finally, Pale Fire Capital SE lifted its position in shares of Dole by 0.6% in the 1st quarter. Pale Fire Capital SE now owns 9,427,476 shares of the company's stock valued at $134,719,000 after acquiring an additional 54,700 shares in the last quarter.

About Dole

Dole plc is an international fresh produce company that sources, grows, packs, ships, markets and distributes fruit and vegetables. Its products include bananas, pineapples and other fresh fruit, as well as vegetables and packaged salads sold under the Dole brand and other labels. The company serves retail, wholesale and food-service customers across a range of markets. Its operations span multiple regions, connecting produce growers and farms with customers through its global sourcing, logistics and distribution network.

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