Dover (NYSE:DOV) Price Target Raised to $206.00

Key Points

• Royal Bank of Canada raised its price target for Dover (NYSE:DOV) from $203.00 to $206.00, indicating a potential upside of 11.26% from the previous close.
• Other brokerages have also updated their ratings, with Mizuho increasing its target from $215.00 to $225.00 and Citigroup raising its target to $226.00.
• Dover's stock is currently rated as a "Moderate Buy" with an average price target of $212.75 based on ratings from multiple analysts.
• The company recently reported a quarterly EPS of $2.44, exceeding analysts' estimates and showing a revenue increase of 5.2% year over year.

Dover (NYSE:DOV - Get Free Report) had its price objective hoisted by stock analysts at Royal Bank Of Canada from $203.00 to $206.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the industrial products company's stock. Royal Bank Of Canada's target price would suggest a potential upside of 10.43% from the company's previous close.

A number of other analysts also recently commented on the stock. Robert W. Baird boosted their price target on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley initiated coverage on shares of Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target on the stock. Mizuho boosted their price target 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 restated a "buy" rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price target on shares of Dover from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and an average target price of $213.42.

Dover Stock Down 0.0%

Dover stock traded down $0.09 during midday trading on Friday, hitting $186.55. 1,579,882 shares of the stock were exchanged, compared to its average volume of 1,078,183. Dover has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a market cap of $25.58 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.57 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. The company has a 50 day moving average price of $182.63 and a two-hundred day moving average price of $183.16.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.77%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $2.36 EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Dover will post 9.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dover

A number of institutional investors have recently modified their holdings of the stock. NorthRock Partners LLC acquired a new stake in shares of Dover during the 2nd quarter valued at $386,000. Astoria Portfolio Advisors LLC. bought a new stake in Dover in the second quarter worth approximately $211,000. Sequoia Financial Advisors LLC grew its position in Dover by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 3,094 shares of the industrial products company's stock worth $567,000 after acquiring an additional 112 shares in the last quarter. Vest Financial LLC grew its position in Dover by 38.0% in the second quarter. Vest Financial LLC now owns 382,428 shares of the industrial products company's stock worth $70,072,000 after acquiring an additional 105,366 shares in the last quarter. Finally, MGO One Seven LLC grew its position in Dover by 6.3% in the second quarter. MGO One Seven LLC now owns 2,391 shares of the industrial products company's stock worth $438,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds 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.