DPC Holdings PLC’s Quiet Period Set To Expire on August 4th (NYSE:DPC)

DPC’s (NYSE:DPC) quiet period is set to expire on Tuesday, August 4th. DPC had issued 27,858,585 shares in its initial public offering on June 25th. The total size of the offering was $919,333,305 based on an initial share price of $33.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank Of Canada began coverage on shares of DPC in a research report on Monday, July 20th. They issued an “outperform” rating and a $53.00 price objective for the company. Rothschild & Co Redburn initiated coverage on DPC in a report on Monday, July 20th. They set a “buy” rating and a $53.50 target price on the stock. Jefferies Financial Group started coverage on DPC in a research note on Monday, July 20th. They issued a “buy” rating and a $56.00 target price for the company. Morgan Stanley began coverage on DPC in a report on Monday, July 20th. They issued an “equal weight” rating and a $47.00 price target for the company. Finally, Wall Street Zen raised DPC to a “hold” rating in a research report on Saturday, July 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, DPC presently has an average rating of “Moderate Buy” and an average price target of $52.38.

DPC Trading Down 2.2%

DPC stock opened at $44.44 on Thursday. DPC has a twelve month low of $42.50 and a twelve month high of $53.50.

Insiders Place Their Bets

In related news, Director Stanley A. Deal bought 16,360 shares of DPC stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, with a total value of $539,880.00. Following the purchase, the director owned 16,360 shares in the company, valued at approximately $539,880. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David John Egan bought 275,363 shares of DPC stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average cost of $33.00 per share, with a total value of $9,086,979.00. Following the completion of the purchase, the chief financial officer owned 294,529 shares in the company, valued at approximately $9,719,457. This trade represents a 1,436.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,297,621 shares of company stock worth $75,821,493 in the last ninety days.