Donaldson Company, Inc. (NYSE:DCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, October 17th.
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. Donaldson’s strategy of winning first-fit programs, aftermarket growth and fostering innovative technology are likely to act as growth catalysts, going forward.”
DCI has been the subject of several other reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Donaldson in a research note on Thursday, September 7th. Robert W. Baird reissued a “hold” rating and issued a $47.00 price target on shares of Donaldson in a report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Donaldson in a report on Tuesday, October 3rd. BidaskClub raised shares of Donaldson from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, Stifel Nicolaus set a $48.00 price target on shares of Donaldson and gave the stock a “hold” rating in a research report on Friday, August 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Donaldson currently has a consensus rating of “Hold” and a consensus target price of $48.00.
Donaldson (NYSE:DCI) traded up $0.05 on Tuesday, hitting $47.82. 180,214 shares of the company were exchanged, compared to its average volume of 356,369. The company has a market cap of $6,205.56, a PE ratio of 28.27, a P/E/G ratio of 2.30 and a beta of 1.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.77 and a current ratio of 2.38. Donaldson has a 1-year low of $35.93 and a 1-year high of $48.91.
Donaldson (NYSE:DCI) last announced its earnings results on Thursday, September 7th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). Donaldson had a return on equity of 28.14% and a net margin of 9.81%. The company had revenue of $660.10 million during the quarter, compared to analyst estimates of $634.41 million. During the same period in the previous year, the company posted $0.46 earnings per share. Donaldson’s revenue for the quarter was up 11.2% on a year-over-year basis. research analysts predict that Donaldson will post 1.88 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of DCI. JPMorgan Chase & Co. increased its position in shares of Donaldson by 96.0% during the first quarter. JPMorgan Chase & Co. now owns 9,985 shares of the industrial products company’s stock worth $454,000 after acquiring an additional 4,891 shares in the last quarter. KBC Group NV boosted its holdings in Donaldson by 259.9% during the first quarter. KBC Group NV now owns 9,001 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 6,500 shares during the last quarter. Schroder Investment Management Group purchased a new position in Donaldson during the first quarter worth about $154,000. OppenheimerFunds Inc. boosted its holdings in Donaldson by 15.2% during the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the industrial products company’s stock worth $562,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Donaldson by 9.2% during the first quarter. Teachers Advisors LLC now owns 125,839 shares of the industrial products company’s stock worth $5,728,000 after purchasing an additional 10,650 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.
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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