Douglas Dynamics (NYSE:PLOW) Earns Buy Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of Douglas Dynamics (NYSE:PLOW) in a research note published on Tuesday morning, Benzinga reports. DA Davidson currently has a $31.00 price objective on the auto parts company’s stock.

Separately, Robert W. Baird reaffirmed a neutral rating and issued a $25.00 price target (down previously from $36.00) on shares of Douglas Dynamics in a report on Monday, April 8th.

Douglas Dynamics Stock Performance

Shares of NYSE PLOW opened at $23.54 on Tuesday. Douglas Dynamics has a 1 year low of $21.35 and a 1 year high of $35.39. The firm has a market cap of $543.54 million, a P/E ratio of 20.12, a PEG ratio of 1.11 and a beta of 1.14. The stock has a fifty day moving average price of $23.46 and a two-hundred day moving average price of $26.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.01 and a current ratio of 2.06.

Douglas Dynamics (NYSE:PLOW) last announced its quarterly earnings data on Monday, February 26th. The auto parts company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.12. The business had revenue of $134.25 million during the quarter, compared to analyst estimates of $134.00 million. Douglas Dynamics had a return on equity of 12.95% and a net margin of 4.90%. Research analysts forecast that Douglas Dynamics will post 1.46 EPS for the current fiscal year.

Douglas Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, March 15th. Douglas Dynamics’s dividend payout ratio (DPR) is currently 100.86%.

Hedge Funds Weigh In On Douglas Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Douglas Dynamics by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,371,391 shares of the auto parts company’s stock valued at $70,383,000 after acquiring an additional 26,423 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in Douglas Dynamics by 16.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,191,913 shares of the auto parts company’s stock valued at $65,056,000 after buying an additional 311,799 shares during the period. Dimensional Fund Advisors LP lifted its position in Douglas Dynamics by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 902,805 shares of the auto parts company’s stock worth $26,796,000 after buying an additional 8,194 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Douglas Dynamics by 3.0% during the 3rd quarter. William Blair Investment Management LLC now owns 721,639 shares of the auto parts company’s stock valued at $21,779,000 after buying an additional 20,973 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its holdings in shares of Douglas Dynamics by 32.2% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 364,773 shares of the auto parts company’s stock valued at $11,009,000 after acquiring an additional 88,804 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.

About Douglas Dynamics

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through 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 trucks and heavy duty trucks, as well as various related parts and accessories.