Oppenheimer Remains a Hold on Dover Corp

By Jason Carr

In a report released today, Jim Giannakouros from Oppenheimer maintained a Hold rating on Dover Corp (NYSE: DOV). The company’s shares opened today at $77.40.

Giannakouros noted:

“We update our DOV model reflecting the Apergy spin and maintain our Perform rating. We view the spin positively given RemainCo’s steadier growth platforms (less cyclicality) with margin expansion runway. However, while ES and Fluids generally appear on solid footing, RFE sales and orders declines set a high bar for F2H18 expectations, and we maintain our cautious stance on both organic growth and margin progression in that segment. We look at potential offsets to any underperformance here (e.g., potential for accelerated share repurchases, stronger performance at both PID and ES-Industrial (supportive truck cycle)), and DOV’s strong cash generation all likely support valuation at these levels (particularly vis-à-vis multi peers). We remain patient pending a more visible, model-moving catalyst.”

According to TipRanks.com, Giannakouros is a 4-star analyst with an average return of 5.9% and a 54.5% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.

Currently, the analyst consensus on Dover Corp is Moderate Buy and the average price target is $99.80, representing a 28.9% upside.

In a report issued on May 10, Stifel Nicolaus also maintained a Hold rating on the stock with a $85 price target.

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Dover Corp’s market cap is currently $11.9B and has a P/E ratio of 15.70. The company has a Price to Book ratio of 2.68.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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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 business segments: Engineered Systems, Fluids, Refrigeration & Food Equipment, and Energy.