Douglas Dynamics (NYSE:PLOW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday.
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. “
Several other research firms also recently issued reports on PLOW. ValuEngine downgraded shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a research note on Tuesday. Craig Hallum set a $43.00 price target on shares of Douglas Dynamics and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.33.
Douglas Dynamics (NYSE:PLOW) last released its quarterly earnings results on Monday, November 5th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.01). The business had revenue of $124.80 million for the quarter, compared to the consensus estimate of $125.37 million. Douglas Dynamics had a net margin of 12.49% and a return on equity of 15.64%. Douglas Dynamics’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. On average, research analysts predict that Douglas Dynamics will post 2 EPS for the current year.
In other news, insider Jonathon P. Sievert sold 1,200 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $43.30, for a total transaction of $51,960.00. Following the completion of the sale, the insider now directly owns 9,884 shares in the company, valued at $427,977.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman James L. Janik sold 25,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $44.89, for a total transaction of $1,122,250.00. Following the sale, the chairman now owns 239,030 shares of the company’s stock, valued at $10,730,056.70. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Douglas Dynamics by 6.8% during the first quarter. Royal Bank of Canada now owns 18,215 shares of the auto parts company’s stock worth $789,000 after buying an additional 1,161 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Douglas Dynamics by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 116,508 shares of the auto parts company’s stock worth $5,593,000 after purchasing an additional 1,719 shares during the period. Atria Investments LLC grew its holdings in Douglas Dynamics by 26.6% in the second quarter. Atria Investments LLC now owns 8,706 shares of the auto parts company’s stock worth $418,000 after purchasing an additional 1,829 shares during the period. Raymond James & Associates grew its holdings in Douglas Dynamics by 31.8% in the second quarter. Raymond James & Associates now owns 11,360 shares of the auto parts company’s stock worth $545,000 after purchasing an additional 2,742 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Douglas Dynamics by 429.6% in the third quarter. Meeder Asset Management Inc. now owns 3,808 shares of the auto parts company’s stock worth $167,000 after purchasing an additional 3,089 shares during the period. Institutional investors own 90.58% of the company’s stock.
About Douglas Dynamics
Douglas Dynamics, Inc operates as a manufacturer and up-fitter of commercial work truck attachments and equipment primarily in North America. It operates in two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light and heavy duty trucks, as well as various related parts and accessories.
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