Dolby Laboratories (DLB) received a Hold rating and a $72.00 price target from B.Riley FBR analyst Eric Wold today. The company’s shares closed last Tuesday at $68.05.
According to TipRanks.com, Wold is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -14.8% and a 27.9% success rate. Wold covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dolby Laboratories with a $67.67 average price target.
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Based on Dolby Laboratories’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $352 million and net profit of $88.5 million. In comparison, last year the company earned revenue of $338 million and had a net profit of $73.44 million.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DLB in relation to earlier this year. Last month, Lewis Chew, the EVP & CFO of DLB sold 10,000 shares for a total of $547,800.
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Dolby Laboratoties, Inc. designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.