Dover Corp (DOV) is Upgraded by Seaport Global Securities to Buy, Raises Price Target to $ 75

Dover Corp (DOV) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 75 from a previous price target of $59 . Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Dover Corp. Company shares were Reiterated by Barclays on Apr 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 65 from a previous price target of $63 .Dover Corp was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 21, 2016. Shares were Reiterated by RBC Capital Mkts on Mar 16, 2016 to “Sector Perform” and Lowered the Price Target to $ 59 from a previous price target of $62 .

On the company’s financial health, Dover Corp reported $0.52 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.58. The company had revenue of $1622.30 million for the quarter, compared to analysts expectations of $1590.96 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.72 EPS.

Dover Corp opened for trading at $66.72 and hit $67.9 on the upside on Friday, eventually ending the session at $67.35, with a gain of 1.00% or 0.67 points. The heightened volatility saw the trading volume jump to 12,45,085 shares. Company has a market cap of $10,449 M.

In a different news, on May 21, 2015, Robert Livingston (CEO and President) sold 5,000 shares at $76.84 per share price. According to the SEC, on Feb 20, 2015, C. Anderson Fincher (Vice President) sold 3,698 shares at $74.33 per share price. On Feb 9, 2015, Michael B Stubbs (director) sold 69,000 shares at $72.73 per share price, according to the Form-4 filing with the securities and exchange commission.

Dover Corporation (Dover) is engaged in the manufacturing of equipment components and specialty systems. The Company also provides supporting engineering testing and other services. The Company operates through four business segments: Energy Engineered Systems Fluids and Refrigeration & Food Equipment. The Energy segment serves the Drilling & Production Bearings & Compression and Automation end markets and provides solutions and services for production and processing of oil natural gas liquids and gas around the world. The Engineered Systems segment manages its products and services through two business platforms Printing & Identification and Industrials. The Fluids segment is focused on the handling of critical fluids across the retail fueling chemical hygienic and industrial markets. The Refrigeration & Food Equipment segment provides equipment and systems serving the commercial refrigeration and food service industries.

Dover Corp

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