Douglas Dynamics Inc. (NYSE:PLOW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Douglas Dynamics, Inc. designs, manufactures and sells snow and ice control equipment for light trucks, which is comprised of snowplows and sand and salt spreaders, and related parts and accessories. The Company sells its products under the WESTERN(R), FISHER(R) and BLIZZARD(R) brands through a distributor network, primarily consisting of truck equipment distributors located throughout the Midwest, East and Northeast regions of the United States as well as all provinces of Canada. It sells its products primarily to professional snowplowers who are contracted to remove snow and ice from commercial, municipal and residential areas. Douglas Dynamics, Inc. is headquartered in Milwaukee, Wisconsin. “
Separately, Seaport Global Securities downgraded shares of Douglas Dynamics from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Douglas Dynamics currently has an average rating of “Hold” and a consensus target price of $28.33.
Shares of Douglas Dynamics (NYSE:PLOW) opened at 31.83 on Wednesday. Douglas Dynamics has a 52-week low of $16.89 and a 52-week high of $32.80. The stock has a market capitalization of $716.21 million, a P/E ratio of 13.91 and a beta of 1.22. The firm has a 50-day moving average price of $31.84 and a 200-day moving average price of $26.08.
Douglas Dynamics (NYSE:PLOW) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.26. Douglas Dynamics had a net margin of 12.84% and a return on equity of 22.47%. The firm earned $113.80 million during the quarter, compared to the consensus estimate of $96.87 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Douglas Dynamics will post $1.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, September 16th. Douglas Dynamics’s payout ratio is 41.23%.
Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in Douglas Dynamics by 37.7% in the first quarter. Lazard Asset Management LLC now owns 499,760 shares of the company’s stock valued at $11,449,000 after buying an additional 136,712 shares in the last quarter. Aperio Group LLC purchased a new position in Douglas Dynamics during the first quarter valued at about $267,000. Glenmede Trust Co. NA raised its position in Douglas Dynamics by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 19,071 shares of the company’s stock valued at $434,000 after buying an additional 78 shares in the last quarter. Ngam Advisors L.P. raised its position in Douglas Dynamics by 0.8% in the second quarter. Ngam Advisors L.P. now owns 16,665 shares of the company’s stock valued at $429,000 after buying an additional 140 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Douglas Dynamics by 1.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,035 shares of the company’s stock valued at $780,000 after buying an additional 340 shares in the last quarter. 85.68% of the stock is currently owned by institutional investors.
About Douglas Dynamics
Douglas Dynamics, Inc is a manufacturer of vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, SNOWEX and WESTERN brands; turf care equipment under the TURFEX brand, and industrial maintenance equipment under the SWEEPEX brand.
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