Dole (NYSE:DOLE) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Dole from a “strong sell” to a “hold,” adding to a broader analyst picture that is now also centered on a Hold consensus and an average price target of $15.50.
• Dole’s latest quarterly results were mixed: revenue came in at $2.34 billion, topping estimates and rising 11.6% year over year, but earnings per share of $0.33 missed the $0.36 consensus.
• The stock was trading near $14.13 with a market cap of about $1.35 billion, and it has ranged between $12.52 and $16.57 over the past year.

Dole (NYSE:DOLE - Get Free Report) 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.

DOLE has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $15.00 price target (down from $18.00) on shares of Dole in a research note on Monday, March 30th. Weiss Ratings downgraded shares of Dole from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $15.50.

Dole Price Performance

NYSE DOLE opened at $14.13 on Monday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.58 and a beta of 0.63. Dole has a 1-year low of $12.52 and a 1-year high of $16.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.91. The business's fifty day moving average price is $14.21 and its 200-day moving average price is $14.80.

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

Hedge Funds Weigh In On Dole

Hedge funds have recently modified their holdings of the company. Pale Fire Capital SE lifted its stake in shares of Dole by 0.6% during the 1st quarter. Pale Fire Capital SE now owns 9,427,476 shares of the company's stock valued at $134,719,000 after buying an additional 54,700 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Dole by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company's stock worth $71,438,000 after buying an additional 659,892 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Dole by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 4,987,681 shares of the company's stock valued at $74,765,000 after acquiring an additional 48,710 shares during the period. River Road Asset Management LLC lifted its position in shares of Dole by 12.9% in the fourth quarter. River Road Asset Management LLC now owns 4,617,435 shares of the company's stock valued at $69,215,000 after acquiring an additional 525,801 shares in the last quarter. Finally, Nuveen LLC lifted its position in shares of Dole by 0.9% in the fourth quarter. Nuveen LLC now owns 1,643,034 shares of the company's stock valued at $24,629,000 after acquiring an additional 15,418 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.