Barclays Lowers Dover (NYSE:DOV) Price Target to $190.00

Key Points

• Barclays has lowered its price target for Dover from $193.00 to $190.00, maintaining an "equal weight" rating, which suggests limited movement compared to the market.
• Mizuho and Citigroup have raised their price targets for Dover, with Mizuho targeting $225.00 and Citigroup setting a target of $226.00, both indicating stronger bullish sentiment compared to Barclays.
• Dover's stock currently has an average rating of "Moderate Buy" among analysts, with a consensus price target of approximately $213.67, reflecting positive expectations overall despite Barclays' adjustment.

Dover (NYSE:DOV - Get Free Report) had its price target lowered by equities research analysts at Barclays from $193.00 to $190.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Barclays's target price indicates a potential upside of 13.63% from the company's previous close.

DOV has been the subject of a number of other research reports. Mizuho increased their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Citigroup reissued a "buy" rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.67.

Dover Price Performance

Shares of Dover stock traded up $0.38 during mid-day trading on Wednesday, reaching $167.21. 165,476 shares of the stock were exchanged, compared to its average volume of 1,042,598. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $176.75 and a 200 day simple moving average of $176.78. Dover has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.36 EPS. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. On average, sell-side analysts predict that Dover will post 9.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOV. North Capital Inc. bought a new position in Dover in the first quarter valued at approximately $29,000. AdvisorShares Investments LLC acquired a new position in Dover during the second quarter worth $30,000. N.E.W. Advisory Services LLC bought a new position in shares of Dover in the 1st quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC grew its position in shares of Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 93 shares during the period. Finally, Caldwell Trust Co acquired a new position in shares of Dover in the second quarter valued at $31,000. Institutional investors own 84.46% of the company's stock.

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.

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