Douglas Dynamics (NYSE:PLOW) Stock Price Target Cut by Freedom Broker

Key Points

• Freedom Broker lowered its price target on Douglas Dynamics from $56 to $55 but maintained a Buy rating, implying 47.54% upside from the prior close.
• Analyst sentiment remains positive overall: the stock has a consensus Moderate Buy rating and an average price target of $52.50.
• Douglas Dynamics beat quarterly earnings expectations, posting EPS of $0.98 versus estimates of $0.92; revenue of $218.01 million was slightly below forecasts.

Douglas Dynamics (NYSE:PLOW - Get Free Report) had its target price cut by equities researchers at Freedom Broker from $56.00 to $55.00 in a report released on Friday, Benzinga reports. The firm currently has a "buy" rating on the auto parts company's stock. Freedom Broker's price objective would suggest a potential upside of 47.54% from the stock's previous close.

Several other research firms have also commented on PLOW. DA Davidson set a $57.00 target price on Douglas Dynamics in a report on Tuesday, August 4th. Wall Street Zen raised Douglas Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, November 7th. Robert W. Baird lowered their price objective on Douglas Dynamics from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Zacks Research upgraded Douglas Dynamics from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Douglas Dynamics in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.50.

Douglas Dynamics Stock Down 0.7%

NYSE:PLOW traded down $0.26 during mid-day trading on Friday, hitting $37.28. The stock had a trading volume of 63,039 shares, compared to its average volume of 233,244. Douglas Dynamics has a twelve month low of $29.41 and a twelve month high of $55.00. The stock has a 50-day simple moving average of $39.52 and a two-hundred day simple moving average of $42.99. The company has a current ratio of 1.97, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $860.35 million, a PE ratio of 13.53, a PEG ratio of 0.84 and a beta of 1.14.

Douglas Dynamics (NYSE:PLOW - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The auto parts company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. Douglas Dynamics had a net margin of 8.71% and a return on equity of 22.97%. The company had revenue of $218.01 million during the quarter, compared to analysts' expectations of $218.60 million. On average, equities research analysts anticipate that Douglas Dynamics will post 2.83 EPS for the current year.

Institutional Investors Weigh In On Douglas Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of PLOW. BlackRock Inc. acquired a new position in Douglas Dynamics in the second quarter valued at $109,009,000. Pzena Investment Management LLC acquired a new stake in shares of Douglas Dynamics during the second quarter worth about $74,703,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Douglas Dynamics by 2.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,582,621 shares of the auto parts company's stock valued at $62,830,000 after purchasing an additional 44,905 shares during the last quarter. Punch & Associates Investment Management Inc. purchased a new stake in shares of Douglas Dynamics in the 2nd quarter valued at about $35,570,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Douglas Dynamics by 128.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 538,669 shares of the auto parts company's stock valued at $22,673,000 after purchasing an additional 303,077 shares during the last quarter. 91.85% of the stock is currently owned by institutional investors and hedge funds.

About Douglas Dynamics

Douglas Dynamics, Inc. designs, manufactures and sells equipment and attachments for work trucks, with a primary focus on products used for snow and ice control. Its offerings include snowplows, spreaders and related equipment for commercial, municipal and government customers. The company serves the work-truck market through brands including WESTERN, FISHER and SnowEx. Its products are distributed through dealer networks, with service and support provided through those channels. Founded in 1948, Douglas Dynamics has expanded beyond snow and ice equipment into additional work-truck solutions, including truck bodies and related equipment.

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