Citigroup Issues Pessimistic Forecast for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective cut by stock analysts at Citigroup from $236.00 to $222.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 17.50% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Monday, October 28th. Barclays increased their price target on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on Dover from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.91.

Dover Stock Performance

Shares of NYSE DOV opened at $188.93 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $25.92 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.70 and a beta of 1.22. Dover has a 12 month low of $143.96 and a 12 month high of $208.26. The stock has a 50 day moving average of $196.72 and a 200-day moving average of $188.71.

Institutional Investors Weigh In On Dover

A number of large investors have recently modified their holdings of DOV. Interval Partners LP boosted its stake in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after buying an additional 305,436 shares in the last quarter. FMR LLC boosted its stake in shares of Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after purchasing an additional 149,378 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after purchasing an additional 144,930 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Dover during the 2nd quarter worth approximately $17,323,000. Finally, Barclays PLC lifted its stake in Dover by 26.6% in the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock valued at $69,082,000 after purchasing an additional 75,670 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.