Citigroup Forecasts Strong Price Appreciation for Dover (NYSE:DOV) Stock

Dover (NYSE:DOV) had its price objective boosted by research analysts at Citigroup from $226.00 to $236.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price points to a potential upside of 16.95% from the stock’s previous close.

Several other brokerages also recently commented on DOV. UBS Group initiated coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective on the stock. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Barclays boosted their target price on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $213.00.

Dover Stock Up 0.2 %

Shares of NYSE:DOV traded up $0.33 during midday trading on Monday, reaching $201.79. The company’s stock had a trading volume of 157,831 shares, compared to its average volume of 941,119. Dover has a 12-month low of $143.52 and a 12-month high of $208.26. The firm has a 50 day moving average of $196.21 and a 200-day moving average of $186.84. The firm has a market capitalization of $27.68 billion, a P/E ratio of 18.05, a PEG ratio of 2.71 and a beta of 1.22. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Dover

Several hedge funds have recently bought and sold shares of the stock. Independent Advisor Alliance boosted its position in Dover by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after purchasing an additional 58 shares in the last quarter. Main Street Financial Solutions LLC boosted its position in Dover by 2.7% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 60 shares in the last quarter. Valmark Advisers Inc. boosted its position in Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 63 shares in the last quarter. Empower Advisory Group LLC boosted its position in Dover by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock worth $389,000 after purchasing an additional 73 shares in the last quarter. Finally, First Commonwealth Financial Corp PA lifted its position in shares of Dover by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 3,459 shares of the industrial products company’s stock valued at $663,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Dover

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.