Dover Corp Receives a Hold from RBC Capital


In a report issued on July 10, Deane Dray from RBC Capital reiterated a Hold rating on Dover Corp (NYSE: DOV), with a price target of $81. The company’s shares closed yesterday at $73.89.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 5.2% and a 59.4% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group Inc, Emerson Electric Company, and Eaton Corporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dover Corp with a $89.33 average price target, which is a 20.9% upside from current levels. In a report released yesterday, Deutsche Bank also assigned a Hold rating to the stock with a $79 price target.

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Based on Dover Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $131 million. In comparison, last year the company had a net profit of $164 million.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock.

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Dover Corp. engages in the manufacture of equipment, components, and specialty systems. It also provides supporting engineering, testing, and other similar services. It operates through the following business segments: Engineered Systems, Fluids, Refrigeration & Food Equipment, and Energy.

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