In a report released yesterday, Julian Mitchell from Barclays maintained a Buy rating on Dover (DOV), with a price target of $107.00. The company’s shares closed last Thursday at $84.15.
According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 6.4% and a 62.1% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Raytheon Technologies.
Currently, the analyst consensus on Dover is a Moderate Buy with an average price target of $99.88, a 19.3% upside from current levels. In a report issued on April 1, Citigroup also maintained a Buy rating on the stock with a $98.00 price target.
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Based on Dover’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.78 billion and net profit of $168 million. In comparison, last year the company earned revenue of $1.81 billion and had a net profit of $142 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DOV in relation to earlier this year.
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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 segments: Engineered Systems, Fluids, and Refrigeration and Food Equipment. The Engineered Systems segment focuses on the design, manufacture, and service of critical equipment and components serving the fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrial end markets. The Fluids segment focuses on the safe handling of critical fluids and gases the retail fueling, chemical, hygienic, and industrial end markets. The Refrigeration and Food Equipment segment provides innovative and energy-efficient equipment and systems serving the commercial refrigeration and food equipment end markets. The company was founded by George L. Ohrstrom in 1947 and is headquartered in Downers Grove, IL.
