Oppenheimer analyst Bryan Blair reiterated a Buy rating on Dover (DOV – Research Report) today and set a price target of $195.00. The company’s shares closed last Friday at $143.00, close to its 52-week low of $138.50.
According to TipRanks.com, Blair is a 5-star analyst with an average return of 17.9% and a 58.7% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.
Currently, the analyst consensus on Dover is a Moderate Buy with an average price target of $178.91, a 25.1% upside from current levels. In a report issued on April 21, Robert W. Baird also maintained a Buy rating on the stock with a $169.00 price target.
Based on Dover’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.05 billion and net profit of $226 million. In comparison, last year the company earned revenue of $1.87 billion and had a net profit of $233 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DOV in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Dover Corp. engages in the manufacture of equipment, components, and specialty systems. It also provides supporting engineering, testing, and other similar services. It operates through the following segments: Engineered Systems, Fluids, and Refrigeration and Food Equipment. The Engineered Systems segment focuses on the design, manufacture, and service of critical equipment and components serving the fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrial end markets. The Fluids segment focuses on the safe handling of critical fluids and gases the retail fueling, chemical, hygienic, and industrial end markets. The Refrigeration and Food Equipment segment provides innovative and energy-efficient equipment and systems serving the commercial refrigeration and food equipment end markets. The company was founded by George L. Ohrstrom in 1947 and is headquartered in Downers Grove, IL.
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