Barclays Forecasts Strong Price Appreciation for Dover (NYSE:DOV) Stock

Dover (NYSE:DOV) had its price objective boosted by equities research analysts at Barclays from $205.00 to $213.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 4.71% from the stock’s current price.

Several other equities research analysts have also recently issued reports on DOV. UBS Group initiated coverage on Dover in a report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. The Goldman Sachs Group boosted their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their price objective on Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their target price on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Mizuho boosted their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

DOV stock opened at $203.42 on Friday. The company has a market cap of $27.91 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The stock’s fifty day moving average price is $195.57 and its 200-day moving average price is $190.34. Dover has a 1 year low of $148.45 and a 1 year high of $214.57.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. On average, equities analysts forecast that Dover will post 8.17 earnings per share for the current year.

Hedge Funds Weigh In On Dover

Large investors have recently bought and sold shares of the business. Financial Life Planners bought a new position in Dover in the fourth quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Dover in the 3rd quarter valued at $33,000. R Squared Ltd acquired a new position in shares of Dover in the 4th quarter valued at $34,000. Kieckhefer Group LLC acquired a new position in shares of Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Dover in the 4th quarter valued at $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.