Monday, November 23, 2020

Goldman slashes price target on Dover Corporation [DOV] – find out why.

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Dover Corporation [NYSE: DOV] stock went on an upward path that rose over 0.43% on Friday, amounting to a one-week price decrease of less than -10.21%. Over the last 12 months, DOV stock dropped by -0.18%. The one-year Dover Corporation stock forecast points to a potential upside of 5.37. The average equity rating for DOV stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $13.85 billion, with 144.26 million shares outstanding and 142.58 million shares in the current float. Compared to the average trading volume of 1.16M shares, DOV stock reached a trading volume of 1077092 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Guru’s Opinion on Dover Corporation [DOV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DOV shares is $102.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DOV stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Dover Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 26, 2020. The new note on the price target was released on March 23, 2020, representing the official price target for Dover Corporation stock. Previously, the target price had yet another raise to $94, while JP Morgan analysts kept a Overweight rating on DOV stock.

The Average True Range (ATR) for Dover Corporation is set at 3.67, with the Price to Sales ratio for DOV stock in the period of the last 12 months amounting to 1.96. The Price to Book ratio for the last quarter was 4.68, with the Price to Cash per share for the same quarter was set at 3.55. Price to Free Cash Flow for DOV in the course of the last twelve months was 26.46 with Quick ratio for the last quarter at 0.90.

DOV Stock Performance Analysis:

Dover Corporation [DOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.21. With this latest performance, DOV shares gained by 15.83% in over the last four-week period, additionally sinking by -14.63% over the last 6 months – not to mention a drop of -0.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DOV stock in for the last two-week period is set at 50.60, with the RSI for the last a single of trading hit 44.04, and the three-weeks RSI is set at 51.22 for Dover Corporation [DOV]. The present Moving Average for the last 50 days of trading for this stock 91.84, while it was recorded at 102.27 for the last single week of trading, and 101.68 for the last 200 days.

Insight into Dover Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Dover Corporation [DOV] shares currently have an operating margin of +14.77 and a Gross Margin at +36.85. Dover Corporation’s Net Margin is presently recorded at +9.50.

Return on Total Capital for DOV is now 17.27, given the latest momentum, and Return on Invested Capital for the company is 11.43. Return on Equity for this stock inclined to 23.37, with Return on Assets sitting at 7.96. When it comes to the capital structure of this company, Dover Corporation [DOV] has a Total Debt to Total Equity ratio set at 106.95. Additionally, DOV Total Debt to Total Capital is recorded at 51.68, with Total Debt to Total Assets ending up at 37.41. Long-Term Debt to Equity for the company is recorded at 102.72, with the Long-Term Debt to Total Capital now at 49.63.

Reflecting on the efficiency of the workforce at the company, Dover Corporation [DOV] managed to generate an average of $28,247 per employee. Receivables Turnover for the company is 5.77 with a Total Asset Turnover recorded at a value of 0.84.Dover Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.

DOV Stock EPS

With the latest financial reports released by the company, Dover Corporation posted 1.56/share EPS, while the average EPS was predicted by analysts to be reported at 1.53/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DOV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Dover Corporation go to 7.20%.

Dover Corporation [DOV] Insider Position Details

There are presently around $11,786 million, or 86.40% of DOV stock, in the hands of institutional investors. The top three institutional holders of DOV stocks are: VANGUARD GROUP INC with ownership of 17,925,853, which is approximately 2.03% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 11,384,264 shares of the stock with an approximate value of $1.1 billion in DOV stocks shares; and JPMORGAN CHASE & CO, currently with $953.3 million in DOV stock with ownership of nearly 0.197% of the company’s market capitalization.

Positions in Dover Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 274 institutional holders increased their position in Dover Corporation [NYSE:DOV] by around 8,376,488 shares. Additionally, 426 investors decreased positions by around 12,430,835 shares, while 145 investors held positions by with 101,190,250 shares. The mentioned changes placed institutional holdings at 121,997,573 shares, according to the latest SEC report filing. DOV stock had 68 new institutional investments in for a total of 1,625,383 shares, while 118 institutional investors sold positions of 659,094 shares during the same period.

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