Douglas Dynamics (NYSE:PLOW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors 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. “
A number of other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday. Craig Hallum set a $43.00 price objective on shares of Douglas Dynamics and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.33.
Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings data on Monday, November 5th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $124.80 million for the quarter, compared to analyst estimates of $125.37 million. Douglas Dynamics had a net margin of 12.49% and a return on equity of 15.64%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, research analysts anticipate that Douglas Dynamics will post 2 EPS for the current fiscal year.
In related news, Chairman James L. Janik sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $44.89, for a total transaction of $1,122,250.00. Following the transaction, the chairman now directly owns 239,030 shares of the company’s stock, valued at $10,730,056.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathon P. Sievert sold 1,200 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $43.30, for a total transaction of $51,960.00. Following the transaction, the insider now directly owns 9,884 shares in the company, valued at $427,977.20. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in Douglas Dynamics in the first quarter worth about $244,000. UBS Group AG raised its position in Douglas Dynamics by 31.8% in the first quarter. UBS Group AG now owns 16,482 shares of the auto parts company’s stock worth $714,000 after acquiring an additional 3,972 shares during the period. Royal Bank of Canada raised its position in Douglas Dynamics by 6.8% in the first quarter. Royal Bank of Canada now owns 18,215 shares of the auto parts company’s stock worth $789,000 after acquiring an additional 1,161 shares during the period. Xact Kapitalforvaltning AB bought a new stake in Douglas Dynamics in the first quarter worth about $293,000. Finally, Atria Investments LLC raised its position 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 acquiring an additional 1,829 shares during the period. 90.58% of the stock is currently owned by institutional investors.
Douglas Dynamics Company Profile
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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