Donaldson (NYSE:DCI) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Donaldson Company, Inc. (NYSE:DCI)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $87.29 and traded as high as $88.27. Donaldson shares last traded at $88.0620, with a volume of 548,391 shares traded.

Analyst Upgrades and Downgrades

DCI has been the subject of several analyst reports. Wall Street Zen cut shares of Donaldson from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings raised Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Robert W. Baird lifted their price objective on Donaldson from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Stifel Nicolaus set a $95.00 target price on Donaldson in a research report on Friday, August 28th. Finally, Morgan Stanley increased their target price on Donaldson from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Donaldson has a consensus rating of “Moderate Buy” and a consensus price target of $101.67.

Donaldson Stock Performance

The company has a market cap of $10.18 billion, a PE ratio of 22.82, a P/E/G ratio of 2.02 and a beta of 0.88. The stock’s 50 day simple moving average is $87.18 and its two-hundred day simple moving average is $90.20. The company has a quick ratio of 1.41, a current ratio of 2.08 and a debt-to-equity ratio of 0.73.

Donaldson (NYSE:DCI) last posted its earnings results on Tuesday, August 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Donaldson had a net margin of 11.68% and a return on equity of 28.68%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, research analysts anticipate that Donaldson Company, Inc. will post 4.33 earnings per share for the current year.

Hedge Funds Weigh In On Donaldson

A number of institutional investors have recently bought and sold shares of DCI. Allworth Financial LP acquired a new stake in shares of Donaldson in the second quarter worth $29,000. GW&K Investment Management LLC purchased a new position in shares of Donaldson during the third quarter valued at $29,000. Trust Co. of Vermont acquired a new position in Donaldson during the second quarter valued at $31,000. Next Level Wealth Planning LLC acquired a new position in Donaldson during the third quarter valued at $47,000. Finally, Jacobi Capital Management LLC acquired a new position in Donaldson during the third quarter valued at $66,000. Hedge funds and other institutional investors own 82.81% of the company’s stock.

About Donaldson

Donaldson Company, Inc. is a global manufacturer of filtration systems and replacement parts. Founded in 1915, the company serves customers in industries including agriculture, construction, mining, transportation, manufacturing, and life sciences. Its products include air, liquid, fuel, and lubricating-oil filters for engines and equipment, as well as dust-collection systems and filtration solutions for compressed air and gas. Donaldson also provides filtration technologies for applications such as food and beverage production, bioprocessing, and other life sciences uses.