Dover (DOV) Receives a Hold from Oppenheimer

By Ryan Adsit

In a report issued on March 27, Bryan Blair from Oppenheimer maintained a Hold rating on Dover (DOVResearch Report). The company’s shares closed last Tuesday at $124.25, close to its 52-week high of $130.41.

According to TipRanks.com, Blair is a 4-star analyst with an average return of 18.2% and a 67.8% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.

Dover has an analyst consensus of Moderate Buy, with a price target consensus of $136.29, implying a 7.8% upside from current levels. In a report issued on March 17, Morgan Stanley also maintained a Hold rating on the stock with a $104.00 price target.

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Based on Dover’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.75 billion and net profit of $200 million. In comparison, last year the company earned revenue of $1.83 billion and had a net profit of $206 million.

Based on the recent corporate insider activity of 36 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.

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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.