Dover Corporation (NYSE:DOV) finished Friday with an addition of $0.6 to close at $142.97, an upside of 0.42 percent. An average of 649,080 shares of common stock have been traded in the last five days. There was a gain of $0.70 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 1,060,545 shares traded, while the 50-day average volume stands at 892,610.
DOV stock has decreased by -4.74% in the last month. The company shares reached their 1-month lowest point of $138.73 on 07/25/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $114.49 and a high of $160.66 in 52 weeks. It has reached a new high 12 times so far this year and achieved 5.58% or $7.56 in price. In spite of this, the price is down -11.01% from the 52-week high.
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Insider Transactions
DOV stock investors should be aware that Dover Corporation (DOV) stock had its last reported insider trading activity 67 days ago on Jun 06. In this transaction, the insider spent $2,470,424. Senior Vice President and CFO, Cerepak Brad M, disposed of 34,972 shares at a price of $143.25 on Mar 13. The insider now owns more than $5,009,644 worth of shares. Prior to that, Vice President, Tax Kosinski Anthony K went on to Sale 2,203 shares at $126.18 each on Oct 24. An amount of $277,975 was transacted.
Valuation Metrics
Dover Corporation (DOV) has a trailing price-to-earnings (P/E) ratio of 19.82. The stock’s beta is 1.34. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.37, the price-to-book (PB) ratio at 4.29, and the price-to-cash flow ratio at 36.74.
The company has a payout ratio of 27.90%. The company’s most recent quarterly dividend payment was $0.51 a share, representing a up of 0.99% from $0.5050 last year.
Financial Health
The quick ratio of Dover Corporation for the three months ended June 29 was 0.80, and the current ratio was 1.40, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.64 and a total debt to equity ratio of 0.73 for the quarter ending June 29. Dover Corporation’s EBITDA margin for the year ending June 29 is 20.28%, while its operating margin for the same period stands at 16.10%. Its gross profit as reported stood at $3.06 billion compared to revenue of $8.51 billion.
Earnings Surprise
For the three-month period that ended June 29, Dover Corporation had $2.98 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $242.24 million in the quarter, while revenues of $228.57 million were shrunk -19.56%. The analyst consensus anticipated Dover Corporation’s latest quarter earnings to come in at $2.2 per share, but it turned out to be $2.05, a -6.80% surprise. For the quarter, EBITDA amounted to $403.29 million. Shareholders own equity worth $139.87 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Dover Corporation (DOV) price momentum. RSI 9-day as of the close on 11 August was 38.43%, suggesting the stock is Neutral, with historical volatility in this time frame at 11.13%.
As of today, DOV’s price is $143.26 +0.49% or $0.70 from its 5-day moving average. DOV is currently trading -3.61% lower than its 20-day SMA and +2.02% higher than its 100-day SMA. However, the stock’s current price level is +7.23% above the SMA50 and +13.33% above the SMA200.
The stochastic %K and %D were 31.42% and 30.81%, respectively, and the average true range (ATR) was 2.67. With the 14-day stochastic at 39.77% and the average true range at 2.80, the RSI (14) stands at 42.22%. The stock has reached -0.33 on the 9-day MACD Oscillator while the 14-day reading was at -1.35.
Analyst Ratings
Credit Suisse launched coverage on Dover Corporation (NYSE: DOV) in its analyst report released on December 13, 2022. The firm assigned the stock an Outperform rating. The consensus rating for Dover Corporation (DOV) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell DOV, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 9 others rate it as a “buy”.
What is DOV’s price target for the next 12 months?
Analysts predict a range of price targets between $136.00 and $202.00, with a median target of $162.65. Taking a look at these predictions, the average price target given by analysts for Dover Corporation (DOV) stock is $166.14.
