Morgan Stanley Issues Positive Forecast for DPC (NYSE:DPC) Stock Price

DPC (NYSE:DPC) had its target price hoisted by Morgan Stanley from $47.00 to $59.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 9.36% from the company’s previous close.

DPC has been the subject of a number of other research reports. Rothschild & Co Redburn assumed coverage on shares of DPC in a research note on Monday, July 20th. They set a “buy” rating and a $53.50 target price for the company. Royal Bank Of Canada upped their price target on shares of DPC from $53.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Research upgraded DPC to a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen raised DPC to a “hold” rating in a research report on Saturday, July 4th. Finally, Jefferies Financial Group assumed coverage on DPC in a research report on Monday, July 20th. They set a “buy” rating and a $56.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.62.

DPC Price Performance

Shares of NYSE DPC traded up $0.18 during mid-day trading on Wednesday, reaching $53.95. The company had a trading volume of 88,780 shares, compared to its average volume of 1,397,635. DPC has a 12-month low of $42.50 and a 12-month high of $57.25.

DPC (NYSE:DPC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $268.30 million for the quarter. Research analysts predict that DPC will post 0.34 EPS for the current fiscal year.

Insider Activity at DPC

In other DPC news, Director Nick Sanders purchased 288,213 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $9,511,029.00. Following the acquisition, the director owned 288,213 shares of the company’s stock, valued at $9,511,029. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David John Egan acquired 275,363 shares of DPC stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average cost of $33.00 per share, with a total value of $9,086,979.00. Following the purchase, the chief financial officer owned 294,529 shares in the company, valued at $9,719,457. The trade was a 1,436.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,297,621 shares of company stock worth $75,821,493 over the last quarter.

About DPC

DPC Holdings is a manufacturer of engineered engine products which include complex precision cast components and nickel- and cobalt-based superalloys primarily serving Aerospace and IGT end markets. DPC Holdings is based in United Kingdom.