Freedom Broker Issues Pessimistic Forecast for Douglas Dynamics (NYSE:PLOW) Stock Price

Douglas Dynamics (NYSE:PLOW) had its target price decreased by investment analysts at Freedom Broker from $56.00 to $55.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the auto parts company’s stock. Freedom Broker‘s target price indicates a potential upside of 47.54% from the stock’s previous close.

A number of other research analysts have also commented on PLOW. Wall Street Zen upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Douglas Dynamics in a research note on Wednesday. DA Davidson set a $57.00 price target on Douglas Dynamics in a report on Tuesday, August 4th. Zacks Research upgraded Douglas Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, Robert W. Baird reduced their price objective on Douglas Dynamics from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Douglas Dynamics Stock Performance

Shares of PLOW traded down $0.26 during mid-day trading on Friday, reaching $37.28. 63,039 shares of the company’s stock were exchanged, compared to its average volume of 233,244. The business’s fifty day simple moving average is $39.52 and its 200-day simple moving average is $42.99. The stock has a market capitalization of $860.35 million, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. Douglas Dynamics has a 52-week low of $29.41 and a 52-week high of $55.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.97 and a quick ratio of 1.13.

Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings results on Monday, November 2nd. The auto parts company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $218.01 million during the quarter, compared to analysts’ expectations of $218.60 million. Douglas Dynamics had a net margin of 8.71% and a return on equity of 22.97%. On average, equities research analysts expect that Douglas Dynamics will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On Douglas Dynamics

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in shares of Douglas Dynamics in the 2nd quarter worth $11,027,000. Globeflex Capital L P acquired a new position in shares of Douglas Dynamics during the second quarter worth about $4,672,000. Ranger Investment Management L.P. acquired a new position in shares of Douglas Dynamics during the second quarter worth about $5,914,000. Icon Advisers Inc. Co. acquired a new position in shares of Douglas Dynamics during the first quarter worth about $8,717,000. Finally, Deutsche Bank AG purchased a new position in Douglas Dynamics during the second quarter worth about $1,325,000. 91.85% of the stock is owned by institutional investors and hedge funds.

About Douglas Dynamics

Douglas Dynamics, Inc. designs, manufactures and sells equipment and attachments for work trucks, with a primary focus on products used for snow and ice control. Its offerings include snowplows, spreaders and related equipment for commercial, municipal and government customers. The company serves the work-truck market through brands including WESTERN, FISHER and SnowEx. Its products are distributed through dealer networks, with service and support provided through those channels. Founded in 1948, Douglas Dynamics has expanded beyond snow and ice equipment into additional work-truck solutions, including truck bodies and related equipment.