Douglas Dynamics Inc. (PLOW) Stock Rating Lowered by Zacks Investment Research
Douglas Dynamics Inc. (NYSE:PLOW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Douglas Dynamics, Inc. designs, manufactures and sells snow and ice control equipment for light trucks, which is comprised of snowplows and sand and salt spreaders, and related parts and accessories. The Company sells its products under the WESTERN(R), FISHER(R) and BLIZZARD(R) brands through a distributor network, primarily consisting of truck equipment distributors located throughout the Midwest, East and Northeast regions of the United States as well as all provinces of Canada. It sells its products primarily to professional snowplowers who are contracted to remove snow and ice from commercial, municipal and residential areas. Douglas Dynamics, Inc. is headquartered in Milwaukee, Wisconsin. “
Separately, Seaport Global Securities lowered Douglas Dynamics from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Douglas Dynamics currently has an average rating of “Hold” and a consensus price target of $28.33.
Shares of Douglas Dynamics (NYSE:PLOW) opened at 31.83 on Wednesday. The company has a market cap of $716.21 million, a PE ratio of 13.91 and a beta of 1.22. Douglas Dynamics has a 1-year low of $16.89 and a 1-year high of $32.80. The firm has a 50-day moving average price of $31.84 and a 200 day moving average price of $26.08.
Douglas Dynamics (NYSE:PLOW) last posted its earnings results on Monday, August 1st. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.26. Douglas Dynamics had a return on equity of 22.47% and a net margin of 12.84%. The company had revenue of $113.80 million for the quarter, compared to analyst estimates of $96.87 million. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Douglas Dynamics will post $1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, September 16th. Douglas Dynamics’s payout ratio is 41.23%.
Several hedge funds have recently modified their holdings of PLOW. Barclays PLC increased its stake in shares of Douglas Dynamics by 135.2% in the second quarter. Barclays PLC now owns 8,193 shares of the company’s stock worth $211,000 after buying an additional 4,710 shares during the last quarter. Wealthsource Partners LLC purchased a new stake in Douglas Dynamics during the first quarter worth about $234,000. Affinity Investment Advisors LLC purchased a new stake in Douglas Dynamics during the second quarter worth about $265,000. Aperio Group LLC purchased a new stake in Douglas Dynamics during the first quarter worth about $267,000. Finally, BlackRock Advisors LLC increased its stake in Douglas Dynamics by 0.7% in the second quarter. BlackRock Advisors LLC now owns 10,939 shares of the company’s stock worth $281,000 after buying an additional 78 shares in the last quarter. 85.68% of the stock is owned by institutional investors.
About Douglas Dynamics
Douglas Dynamics, Inc is a manufacturer of vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, SNOWEX and WESTERN brands; turf care equipment under the TURFEX brand, and industrial maintenance equipment under the SWEEPEX brand.
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