What Made B.Riley FBR Upgrade Dolby Laboratories’ Stock?

By Carrie Williams

Dolby Laboratories (DLBResearch Report) received a Buy rating and a $73.00 price target from B.Riley FBR analyst Eric Wold today. The company’s shares closed last Monday at $66.34.

According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -4.4% and a 38.0% success rate. Wold covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dolby Laboratories.

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Based on Dolby Laboratories’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $39.57 million. In comparison, last year the company had a net profit of $50.09 million.

Based on the recent corporate insider activity of 76 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 DLB in relation to earlier this year. Most recently, in August 2019, Lewis Chew, the EVP & CFO of DLB sold 15,000 shares for a total of $904,950.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Dolby Laboratoties, Inc. designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.