DuPont de Nemours (NYSE:DD) Price Target Lowered to $48.00 at Royal Bank Of Canada

DuPont de Nemours (NYSE:DD) had its price target cut by equities researchers at Royal Bank Of Canada from $100.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 25.06% from the stock’s current price.

A number of other research analysts also recently weighed in on DD. Citigroup increased their price target on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. reduced their price objective on shares of DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Morgan Stanley decreased their price target on shares of DuPont de Nemours from $80.00 to $44.00 in a report on Monday, November 10th. Wells Fargo & Company reduced their target price on DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Finally, BMO Capital Markets cut their price objective on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, DuPont de Nemours currently has an average rating of “Moderate Buy” and a consensus target price of $53.92.

DuPont de Nemours Trading Down 0.7%

DD traded down $0.27 during mid-day trading on Tuesday, reaching $38.38. The stock had a trading volume of 1,286,892 shares, compared to its average volume of 7,191,600. The stock has a market capitalization of $16.08 billion, a P/E ratio of -81.95, a P/E/G ratio of 2.49 and a beta of 1.11. DuPont de Nemours has a 52 week low of $22.50 and a 52 week high of $41.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.41. The firm’s fifty day simple moving average is $69.90 and its two-hundred day simple moving average is $70.91.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.69 EPS for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%.The firm had revenue of $3.02 billion during the quarter. On average, equities analysts predict that DuPont de Nemours will post 4.38 EPS for the current year.

DuPont de Nemours declared that its board has authorized a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 43,208 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the sale, the senior vice president directly owned 38,585 shares of the company’s stock, valued at approximately $2,977,604.45. This represents a 52.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 74,208 shares of company stock worth $5,714,861 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DuPont de Nemours

Hedge funds have recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its position in DuPont de Nemours by 64.4% during the second quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in shares of DuPont de Nemours by 186.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 207 shares during the period. Palisade Asset Management LLC acquired a new position in shares of DuPont de Nemours during the 3rd quarter worth approximately $26,000. Financial Life Planners bought a new stake in DuPont de Nemours in the 3rd quarter valued at $27,000. Finally, Imprint Wealth LLC acquired a new stake in DuPont de Nemours during the 3rd quarter valued at $27,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

About DuPont de Nemours

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.