DPC (NYSE:DPC) Given New $59.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised DPC’s price target to $59 from $47 while maintaining an “equal weight” rating, implying 9.36% potential upside. The analyst consensus is “Moderate Buy,” with an average target of $57.62.
• DPC shares traded at $53.95, near the upper end of their 12-month range of $42.50 to $57.25. The company’s latest quarterly EPS of $0.05 missed expectations of $0.08, while revenue reached $268.3 million.
• Insiders made significant purchases, buying 2.3 million shares worth approximately $75.8 million over the past 90 days, including large purchases by the CFO and a director.

DPC (NYSE:DPC - Get Free Report) had its price target lifted by investment analysts at Morgan Stanley from $47.00 to $59.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 9.36% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada upped their target price on DPC from $53.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday. Zacks Research raised DPC to a "hold" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded DPC to a "hold" rating in a report on Saturday, July 4th. Rothschild & Co Redburn started coverage on DPC in a research note on Monday, July 20th. They set a "buy" rating and a $53.50 target price for the company. Finally, Jefferies Financial Group started coverage on DPC in a research note on Monday, July 20th. They set a "buy" rating and a $56.00 target price for the company. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.62.

DPC Stock Performance

Shares of DPC stock traded up $0.18 during midday trading on Wednesday, reaching $53.95. 88,780 shares of the company were exchanged, compared to its average volume of 1,397,635. DPC has a 12 month low of $42.50 and a 12 month high of $57.25.

DPC (NYSE:DPC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $268.30 million for the quarter. Equities analysts anticipate that DPC will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David John Egan purchased 275,363 shares of DPC stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average price of $33.00 per share, for a total transaction of $9,086,979.00. Following the transaction, the chief financial officer owned 294,529 shares in the company, valued at $9,719,457. The trade was a 1,436.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nick Sanders purchased 288,213 shares of DPC stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average price of $33.00 per share, with a total value of $9,511,029.00. Following the transaction, the director owned 288,213 shares in the company, valued at $9,511,029. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 2,297,621 shares of company stock valued at $75,821,493 over the last 90 days.

About DPC

DPC Holdings is a manufacturer of engineered engine products which include complex precision cast components and nickel- and cobalt-based superalloys primarily serving Aerospace and IGT end markets. DPC Holdings is based in United Kingdom.

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