Zacks Investment Research downgraded shares of Donaldson Company, Inc. (NYSE:DCI) from a hold rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “In the past six months, Donaldson’s shares have underperformed the industry average. Issues like persistent weakness in key markets, including agriculture, oil and gas, mining equipment, decline in the disk drive business and volatility in sales of Gas Turbines, are anticipated to act as major headwinds going forward. Poor performance from Aerospace and Defense is making matters worse. The company also anticipates disk drive business to follow the market's secular decline. This apart, currency risks, intensifying competition and commodity price fluctuations add to the company’s concerns. However, Donaldson’s Engine Products segment has been showing great momentum, benefiting from stabilization in market conditions and robust sales of replacement parts. The company’s strategy of winning first-fit programs, constant geographic expansion and fostering innovative technology are likely to act as growth catalysts going forward.”
Several other research firms have also recently commented on DCI. Stifel Nicolaus reissued a hold rating and set a $45.00 price target (down from $48.00) on shares of Donaldson in a research note on Friday, September 8th. Robert W. Baird reissued a hold rating and set a $47.00 price target on shares of Donaldson in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Donaldson in a research note on Thursday, September 7th. BidaskClub raised shares of Donaldson from a hold rating to a buy rating in a research note on Thursday, July 13th. Finally, Jefferies Group LLC reissued a buy rating and set a $54.00 price target on shares of Donaldson in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $48.00.
Donaldson (DCI) traded down $0.14 during midday trading on Wednesday, hitting $46.28. 337,800 shares of the stock traded hands, compared to its average volume of 368,707. The firm has a market capitalization of $6,012.00, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The company has a current ratio of 2.38, a quick ratio of 1.77 and a debt-to-equity ratio of 0.63. Donaldson has a 12 month low of $39.49 and a 12 month high of $48.91.
Donaldson (NYSE:DCI) last posted its quarterly earnings data on Thursday, September 7th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The firm had revenue of $660.10 million for the quarter, compared to analyst estimates of $634.41 million. Donaldson had a return on equity of 28.14% and a net margin of 9.81%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. research analysts expect that Donaldson will post 1.87 earnings per share for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in DCI. Vanguard Group Inc. boosted its stake in Donaldson by 1.4% in the second quarter. Vanguard Group Inc. now owns 12,319,252 shares of the industrial products company’s stock valued at $561,018,000 after acquiring an additional 166,412 shares during the last quarter. BlackRock Inc. boosted its stake in Donaldson by 1.9% in the second quarter. BlackRock Inc. now owns 10,590,302 shares of the industrial products company’s stock valued at $482,282,000 after acquiring an additional 199,946 shares during the last quarter. FMR LLC boosted its stake in Donaldson by 1.9% in the second quarter. FMR LLC now owns 1,901,024 shares of the industrial products company’s stock valued at $86,573,000 after acquiring an additional 34,711 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Donaldson by 2.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,885,348 shares of the industrial products company’s stock valued at $86,613,000 after acquiring an additional 43,552 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Donaldson by 163.8% in the second quarter. Janus Henderson Group PLC now owns 1,479,606 shares of the industrial products company’s stock valued at $67,381,000 after acquiring an additional 918,729 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.
Donaldson Company Profile
Donaldson Company, Inc is a manufacturer of filtration systems and replacement parts. The Company’s segments include Engine Products, Industrial Products and Corporate. The Company’s products are manufactured at approximately 44 plants around the world and through three joint ventures. The Company offers its products under the Ultra-Web, PowerCore and Donaldson brands.
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