DPC (NYSE:DPC) Price Target Raised to $59.00

DPC (NYSE:DPC) had its target price increased by Morgan Stanley from $47.00 to $59.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on the company. Royal Bank Of Canada lifted their target price on DPC from $53.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wall Street Zen raised shares of DPC to a “hold” rating in a research report on Saturday, July 4th. Rothschild & Co Redburn initiated coverage on DPC in a research report on Monday, July 20th. They set a “buy” rating and a $53.50 price objective on the stock. Zacks Research upgraded DPC to a “hold” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group began coverage on shares of DPC in a report on Monday, July 20th. They issued a “buy” rating and a $56.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.62.

DPC Stock Performance

DPC stock opened at $50.14 on Wednesday. DPC has a 1 year low of $42.50 and a 1 year high of $57.25.

DPC (NYSE:DPC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The company had revenue of $268.70 million for the quarter. As a group, analysts expect that DPC will post 0.45 earnings per share for the current year.

Insider Activity at DPC

In other news, Director Dirkson R. Charles acquired 212,121 shares of DPC stock in a transaction dated Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $6,999,993.00. Following the completion of the purchase, the director directly owned 511,466 shares in the company, valued at $16,878,378. This trade represents a 70.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Taiwo K. Danmola acquired 60,604 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was acquired at an average price of $33.00 per share, for a total transaction of $1,999,932.00. Following the purchase, the director directly owned 60,604 shares of the company’s stock, valued at approximately $1,999,932. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,297,621 shares of company stock worth $75,821,493 in the last quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in DPC stock. SurgoCap Partners LP bought a new position in shares of DPC Holdings PLC (NYSE:DPC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 638,725 shares of the company’s stock, valued at approximately $31,336,000. DPC comprises about 1.0% of SurgoCap Partners LP’s investment portfolio, making the stock its 13th largest holding. SurgoCap Partners LP owned 0.43% of DPC as of its most recent SEC filing.

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.