DPC (NYSE:DPC) Earns Outperform Rating from Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada initiated coverage on DPC with an outperform rating and a $53 price target, implying about 14.6% upside from the prior close.
• Other analysts were generally positive: the stock now has a Moderate Buy consensus, with three Buy ratings and one Hold, and a consensus target price of $52.38.
• DPC opened at $46.26, and insider buying has been significant, including large purchases by a director and the COO; insiders have bought 2.3 million shares worth about $75.8 million over the last 90 days.

Royal Bank Of Canada started coverage on shares of DPC (NYSE:DPC - Get Free Report) in a research report issued to clients and investors on Monday. The brokerage set an "outperform" rating and a $53.00 price target on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 14.57% from the company's previous close.

Several other research analysts have also issued reports on the stock. Wall Street Zen raised shares of DPC to a "hold" rating in a research note on Saturday, July 4th. Morgan Stanley started coverage on shares of DPC in a research note on Monday. They issued an "equal weight" rating and a $47.00 price target for the company. Jefferies Financial Group assumed coverage on shares of DPC in a report on Monday. They set a "buy" rating and a $56.00 price objective on the stock. Finally, Rothschild & Co Redburn assumed coverage on DPC in a research note on Monday. They issued a "buy" rating and a $53.50 target price for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, DPC currently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

DPC Price Performance

DPC stock opened at $46.26 on Monday. DPC has a 52-week low of $42.90 and a 52-week high of $53.50.

Insiders Place Their Bets

In related news, Director Dirkson R. Charles acquired 903,448 shares of the firm's stock in a transaction on Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, with a total value of $29,813,784.00. Following the acquisition, the director owned 903,448 shares of the company's stock, valued at approximately $29,813,784. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jason Mays acquired 85,973 shares of the stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of $33.00 per share, with a total value of $2,837,109.00. Following the completion of the purchase, the chief operating officer owned 93,456 shares of the company's stock, valued at approximately $3,084,048. The trade was a 1,148.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 2,297,621 shares of company stock worth $75,821,493 in the last 90 days.

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