Douglas Dynamics (NYSE:PLOW) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Douglas Dynamics (NYSE:PLOW) from a strong sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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, TheStreet downgraded shares of Stitch Fix from a c- rating to a d+ rating in a research report on Monday, May 6th.

Douglas Dynamics stock opened at $40.12 on Wednesday. Douglas Dynamics has a 12-month low of $33.54 and a 12-month high of $49.40. The stock has a market cap of $898.82 million, a P/E ratio of 21.23 and a beta of 0.68. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.80 and a quick ratio of 0.95. The business’s fifty day moving average price is $38.50.

Douglas Dynamics (NYSE:PLOW) last released its quarterly earnings results on Monday, May 6th. The auto parts company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.10. Douglas Dynamics had a net margin of 8.53% and a return on equity of 16.34%. The firm had revenue of $93.20 million for the quarter, compared to the consensus estimate of $84.37 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Douglas Dynamics will post 1.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th were given a $0.273 dividend. This represents a $1.09 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, June 17th. Douglas Dynamics’s payout ratio is currently 57.67%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLOW. Epoch Investment Partners Inc. bought a new stake in shares of Douglas Dynamics in the 4th quarter worth about $16,629,000. FMR LLC increased its position in shares of Douglas Dynamics by 36.5% in the 1st quarter. FMR LLC now owns 1,034,961 shares of the auto parts company’s stock worth $39,401,000 after purchasing an additional 276,541 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Douglas Dynamics by 19.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 751,796 shares of the auto parts company’s stock worth $28,621,000 after purchasing an additional 119,980 shares during the last quarter. BlackRock Inc. increased its position in shares of Douglas Dynamics by 5.9% in the 4th quarter. BlackRock Inc. now owns 1,660,745 shares of the auto parts company’s stock worth $59,604,000 after purchasing an additional 92,489 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Douglas Dynamics in the 1st quarter worth about $2,876,000. 89.63% of the stock is owned by institutional investors.

About Douglas Dynamics

Douglas Dynamics, Inc operates as a manufacturer and upfitter 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.

Featured Story: Equal Weight Rating

Get a free copy of the Zacks research report on Douglas Dynamics (PLOW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Douglas Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.