Douglas Dynamics (PLOW) Upgraded by Zacks Investment Research to Hold
Douglas Dynamics (NYSE:PLOW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “
Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub downgraded shares of Douglas Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.00.
Douglas Dynamics (NYSE:PLOW) last posted its earnings results on Monday, November 6th. The auto parts company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05). The business had revenue of $125.30 million during the quarter, compared to the consensus estimate of $133.53 million. Douglas Dynamics had a return on equity of 13.98% and a net margin of 6.59%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. sell-side analysts predict that Douglas Dynamics will post 1.41 EPS for the current fiscal year.
In related news, CEO James L. Janik sold 25,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $37.47, for a total transaction of $936,750.00. Following the completion of the sale, the chief executive officer now directly owns 297,790 shares of the company’s stock, valued at approximately $11,158,191.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman James L. Janik sold 15,593 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.64, for a total transaction of $586,920.52. Following the sale, the chairman now directly owns 261,892 shares of the company’s stock, valued at $9,857,614.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,673 shares of company stock valued at $2,910,522. 3.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zions Bancorporation acquired a new position in Douglas Dynamics during the 3rd quarter valued at $100,000. Principal Financial Group Inc. acquired a new position in Douglas Dynamics during the 3rd quarter valued at $233,000. Sapphire Star Partners LP acquired a new position in Douglas Dynamics during the 3rd quarter valued at $242,000. Comerica Bank acquired a new position in Douglas Dynamics during the 3rd quarter valued at $263,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Douglas Dynamics during the 3rd quarter valued at $267,000. 90.23% of the stock is owned by institutional investors and hedge funds.
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About Douglas Dynamics
Douglas Dynamics, Inc is a manufacturer and up-fitter of commercial vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, HENDERSON, SNOWEX and WESTERN brands, turf care equipment under the TURFEX brand and industrial maintenance equipment under the SWEEPEX brand.
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