Douglas Dynamics (NYSE:PLOW) Price Target Cut to $55.00 by Analysts at Freedom Broker

Douglas Dynamics (NYSE:PLOW) had its price objective reduced by Freedom Broker from $56.00 to $55.00 in a research note published on Friday,Benzinga reports. Freedom Broker currently has a buy rating on the auto parts company’s stock.

Several other analysts have also weighed in on the company. Wall Street Zen raised Douglas Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Douglas Dynamics in a research report on Wednesday. Robert W. Baird lowered their target price on Douglas Dynamics from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Zacks Research raised shares of Douglas Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, DA Davidson set a $57.00 target price on shares of Douglas Dynamics in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

Douglas Dynamics Price Performance

PLOW traded down $0.09 during trading on Friday, hitting $37.45. 183,980 shares of the stock traded hands, compared to its average volume of 199,338. Douglas Dynamics has a twelve month low of $29.41 and a twelve month high of $55.00. The company has a market cap of $864.32 million, a price-to-earnings ratio of 13.57, a PEG ratio of 0.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.97 and a quick ratio of 1.13. The business has a 50 day moving average price of $39.45 and a 200 day moving average price of $42.99.

Douglas Dynamics (NYSE:PLOW) last issued its earnings results on Monday, November 2nd. The auto parts company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Douglas Dynamics had a return on equity of 22.97% and a net margin of 8.71%. The firm had revenue of $218.01 million for the quarter, compared to the consensus estimate of $218.60 million. Equities research analysts forecast that Douglas Dynamics will post 2.83 earnings per share for the current fiscal year.

Douglas Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.2950 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.18 annualized dividend and a dividend yield of 3.2%. Douglas Dynamics’s dividend payout ratio is 42.75%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLOW. Public Employees Retirement System of Ohio bought a new stake in Douglas Dynamics during the 2nd quarter worth $27,000. Sterling Capital Management LLC increased its holdings in Douglas Dynamics by 471.5% in the 3rd quarter. Sterling Capital Management LLC now owns 743 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 613 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Douglas Dynamics in the 2nd quarter worth about $76,000. Nisa Investment Advisors LLC raised its position in Douglas Dynamics by 48.9% in the third quarter. Nisa Investment Advisors LLC now owns 3,559 shares of the auto parts company’s stock valued at $140,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new position in Douglas Dynamics in the first quarter valued at about $208,000. 91.85% of the stock is currently owned by institutional investors.

About Douglas Dynamics

Douglas Dynamics, Inc. designs, manufactures and sells equipment and attachments for work trucks, with a primary focus on products used for snow and ice control. Its offerings include snowplows, spreaders and related equipment for commercial, municipal and government customers. The company serves the work-truck market through brands including WESTERN, FISHER and SnowEx. Its products are distributed through dealer networks, with service and support provided through those channels. Founded in 1948, Douglas Dynamics has expanded beyond snow and ice equipment into additional work-truck solutions, including truck bodies and related equipment.