Royal Bank Of Canada Forecasts Strong Price Appreciation for DPC (NYSE:DPC) Stock

Key Points

• Royal Bank of Canada raised DPC’s price target to $62 from $53 and maintained an “outperform” rating, implying approximately 13% upside from the stock’s $54.89 price.
• Analyst sentiment is broadly positive, with DPC receiving an overall “Moderate Buy” rating and an average price target of $54.62 based on three Buy and two Hold ratings.
• DPC reported quarterly earnings of $0.05 per share, below the $0.08 consensus estimate, while insiders purchased approximately 2.3 million shares worth $75.8 million over the past 90 days.

DPC (NYSE:DPC - Get Free Report) had its target price raised by analysts at Royal Bank Of Canada from $53.00 to $62.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 12.96% from the company's current price.

DPC has been the topic of a number of other research reports. Jefferies Financial Group assumed coverage on shares of DPC in a report on Monday, July 20th. They set a "buy" rating and a $56.00 price target on the stock. Rothschild & Co Redburn began coverage on DPC in a research report on Monday, July 20th. They set a "buy" rating and a $53.50 target price for the company. Wall Street Zen raised DPC to a "hold" rating in a report on Saturday, July 4th. Morgan Stanley started coverage on DPC in a research report on Monday, July 20th. They issued an "equal weight" rating and a $47.00 price target on the stock. Finally, Zacks Research upgraded DPC to a "hold" rating in a research report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, DPC has an average rating of "Moderate Buy" and an average target price of $54.62.

DPC Trading Up 2.1%

NYSE:DPC traded up $1.12 during mid-day trading on Wednesday, hitting $54.89. 29,176 shares of the company's stock were exchanged, compared to its average volume of 1,395,384. DPC has a fifty-two week low of $42.50 and a fifty-two week high of $57.25.

DPC (NYSE:DPC - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). The business had revenue of $268.30 million for the quarter. As a group, sell-side analysts expect that DPC will post 0.34 EPS for the current fiscal year.

Insider Activity at DPC

In other news, Director Nick Sanders purchased 288,213 shares of the company's stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average cost of $33.00 per share, with a total value of $9,511,029.00. Following the purchase, the director owned 288,213 shares in the company, valued at $9,511,029. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jason Mays acquired 85,973 shares of DPC 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 $2,837,109.00. Following the purchase, the chief operating officer directly owned 93,456 shares of the company's stock, valued at approximately $3,084,048. This trade represents a 1,148.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 2,297,621 shares of company stock worth $75,821,493.

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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