Douglas Dynamics (NYSE:PLOW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday, Zacks.com reports. The firm presently has a $60.00 target price on the auto parts company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.85% from the stock’s current price.
According to Zacks, “Douglas Dynamics, Inc. designs, manufactures and sells snow and ice control equipment for light trucks, which is comprised of snowplows and sand and salt spreaders, and related parts and accessories. The Company sells its products under the WESTERN(R), FISHER(R) and BLIZZARD(R) brands through a distributor network, primarily consisting of truck equipment distributors located throughout the Midwest, East and Northeast regions of the United States as well as all provinces of Canada. It sells its products primarily to professional snowplowers who are contracted to remove snow and ice from commercial, municipal and residential areas. Douglas Dynamics, Inc. is headquartered in Milwaukee, Wisconsin. “
Several other equities analysts also recently commented on PLOW. TheStreet raised shares of Douglas Dynamics from a “c+” rating to an “a-” rating in a research note on Thursday, August 8th. Sidoti upped their price objective on shares of Douglas Dynamics from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $56.33.
Douglas Dynamics (NYSE:PLOW) last posted its quarterly earnings results on Monday, November 4th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Douglas Dynamics had a net margin of 9.29% and a return on equity of 17.76%. The business had revenue of $141.87 million during the quarter, compared to analyst estimates of $132.90 million. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. As a group, analysts expect that Douglas Dynamics will post 2.24 earnings per share for the current fiscal year.
In related news, Chairman James L. Janik sold 8,603 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.03, for a total value of $378,790.09. Following the completion of the transaction, the chairman now directly owns 151,605 shares of the company’s stock, valued at $6,675,168.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman James L. Janik sold 9,325 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.00, for a total transaction of $410,300.00. Following the completion of the transaction, the chairman now directly owns 166,297 shares of the company’s stock, valued at $7,317,068. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PLOW. Point72 Hong Kong Ltd bought a new position in shares of Douglas Dynamics during the second quarter valued at approximately $26,000. SRS Capital Advisors Inc. bought a new position in shares of Douglas Dynamics during the second quarter valued at approximately $41,000. Bank of Montreal Can increased its stake in shares of Douglas Dynamics by 393.1% during the second quarter. Bank of Montreal Can now owns 2,367 shares of the auto parts company’s stock valued at $94,000 after purchasing an additional 1,887 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Douglas Dynamics by 332.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,903 shares of the auto parts company’s stock valued at $154,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Brinker Capital Inc. bought a new position in shares of Douglas Dynamics during the third quarter valued at approximately $203,000. 89.49% of the stock is owned by institutional investors.
Douglas Dynamics Company Profile
Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment primarily in North America. It operates in two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light and heavy duty trucks, as well as various related parts and accessories.
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