Douglas Dynamics (NYSE:PLOW) Shares Gap Down – Here’s Why

Douglas Dynamics, Inc. (NYSE:PLOW)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $39.87, but opened at $37.85. Douglas Dynamics shares last traded at $37.8170, with a volume of 13,703 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DA Davidson set a $57.00 price objective on shares of Douglas Dynamics in a research note on Tuesday, August 4th. Robert W. Baird decreased their price objective on Douglas Dynamics from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Zacks Research upgraded shares of Douglas Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Wall Street Zen lowered shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded Douglas Dynamics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

Douglas Dynamics Stock Down 4.4%

The stock has a fifty day moving average price of $40.20 and a 200 day moving average price of $42.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.16 and a quick ratio of 1.03. The stock has a market capitalization of $879.93 million, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14.

Douglas Dynamics (NYSE:PLOW) last announced its quarterly earnings data on Monday, November 2nd. The auto parts company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Douglas Dynamics had a return on equity of 19.03% and a net margin of 7.52%. The firm had revenue of $218.01 million for the quarter, compared to analyst estimates of $218.60 million. On average, research analysts forecast that Douglas Dynamics, Inc. will post 2.86 earnings per share for the current year.

Douglas Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.2950 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.1%. Douglas Dynamics’s dividend payout ratio is currently 53.64%.

Institutional Trading of Douglas Dynamics

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Douglas Dynamics during the second quarter worth approximately $109,009,000. Pzena Investment Management LLC acquired a new position in Douglas Dynamics in the second quarter valued at approximately $74,703,000. Punch & Associates Investment Management Inc. bought a new position in shares of Douglas Dynamics during the second quarter worth about $35,570,000. Arrowstreet Capital Limited Partnership grew its position in Douglas Dynamics by 128.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 538,669 shares of the auto parts company’s stock worth $22,673,000 after purchasing an additional 303,077 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Douglas Dynamics in the 2nd quarter valued at approximately $13,297,000. 91.85% of the stock is currently owned by hedge funds and other institutional investors.

Douglas Dynamics Company Profile

Douglas Dynamics, Inc is a manufacturer of equipment used for snow and ice management. The company’s products are designed for commercial, municipal and residential applications and include snowplows, spreaders, de-icing equipment and related attachments for light-, medium- and heavy-duty trucks.

Its portfolio includes products marketed under brands such as WESTERN, FISHER, BLIZZARD, SnowEx and Henderson. The company offers vehicle-mounted snow and ice control equipment, salt and material spreaders, liquid de-icing systems, truck bodies and other solutions intended to help contractors, municipalities and commercial operators clear roads, parking areas and other paved surfaces.

Founded in 1946, Douglas Dynamics is headquartered in Milwaukee, Wisconsin, and primarily serves customers in North America through equipment dealers, distributors and other commercial channels.