Zacks Investment Research upgraded shares of Douglas Dynamics (NYSE:PLOW) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. They currently have $48.00 price target on the auto parts company’s stock.
According to Zacks, “Douglas Dynamics, Inc. designs, manufactures and sells snow and ice control equipment for light trucks, which is comprised of snowplows and sand and salt spreaders, and related parts and accessories. The Company sells its products under the WESTERN(R), FISHER(R) and BLIZZARD(R) brands through a distributor network, primarily consisting of truck equipment distributors located throughout the Midwest, East and Northeast regions of the United States as well as all provinces of Canada. It sells its products primarily to professional snowplowers who are contracted to remove snow and ice from commercial, municipal and residential areas. Douglas Dynamics, Inc. is headquartered in Milwaukee, Wisconsin. “
Separately, TheStreet raised Douglas Dynamics from a c+ rating to an a- rating in a report on Thursday, August 8th.
Douglas Dynamics (NYSE:PLOW) last released its quarterly earnings results on Monday, August 5th. The auto parts company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.12. Douglas Dynamics had a return on equity of 17.35% and a net margin of 9.12%. The company had revenue of $176.40 million during the quarter, compared to analysts’ expectations of $161.77 million. During the same period in the previous year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Douglas Dynamics will post 2.1 EPS for the current year.
In related news, insider James L. Janik sold 42,380 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $44.00, for a total value of $1,864,720.00. Following the completion of the transaction, the insider now directly owns 197,305 shares in the company, valued at $8,681,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC increased its stake in Douglas Dynamics by 3.7% in the second quarter. Aperio Group LLC now owns 9,169 shares of the auto parts company’s stock valued at $365,000 after purchasing an additional 330 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Douglas Dynamics by 2.3% in the second quarter. Panagora Asset Management Inc. now owns 19,141 shares of the auto parts company’s stock valued at $762,000 after purchasing an additional 432 shares during the last quarter. Legal & General Group Plc increased its stake in Douglas Dynamics by 12.5% in the fourth quarter. Legal & General Group Plc now owns 4,205 shares of the auto parts company’s stock valued at $151,000 after purchasing an additional 466 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Douglas Dynamics in the second quarter valued at $26,000. Finally, Northern Trust Corp increased its stake in Douglas Dynamics by 0.3% in the second quarter. Northern Trust Corp now owns 283,548 shares of the auto parts company’s stock valued at $11,282,000 after purchasing an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 90.18% of the company’s stock.
Douglas Dynamics Company Profile
Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment primarily in North America. It operates in two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light and heavy duty trucks, as well as various related parts and accessories.
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