Douglas Dynamics Inc (PLOW) is Downgraded by Seaport Global Securities to Neutral, Price Target at $24

Douglas Dynamics Inc (PLOW) was Downgraded by Seaport Global Securities to ” Neutral” and the brokerage firm has set the Price Target at $24. Earlier the firm had a rating of “Buy ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jul 6, 2016.

Many Wall Street Analysts have commented on Douglas Dynamics Inc. Seaport Global Securities Upgraded Douglas Dynamics Inc on May 24, 2016 to ” Buy”, Price Target of the shares are set at $24.Seaport Global Securities Initiated Douglas Dynamics Inc on Apr 20, 2016 to “Neutral”, Price Target of the shares are set at $24.

On the company’s financial health, Douglas Dynamics Inc reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Mar 7, 2016. Analyst had a consensus of $0.56. The company had revenue of $118.80 million for the quarter, compared to analysts expectations of $118.25 million. The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Douglas Dynamics Inc closed down -0.25 points or -0.98% at $25.34 with 1,33,909 shares getting traded on Tuesday. Post opening the session at $25.62, the shares hit an intraday low of $25.15 and an intraday high of $25.71 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Mar 8, 2016, Robert J Young (VP, Controller & Treasurer) sold 1,674 shares at $21.30 per share price. According to the SEC, on Mar 8, 2016, Robert L Mccormick (EVP, CFO and Secretary) sold 10,654 shares at $21.28 per share price. On Mar 8, 2016, James L Janik (Chairman, President and CEO) sold 10,481 shares at $21.30 per share price, according to the Form-4 filing with the securities and exchange commission.

Douglas Dynamics Inc. is a manufacturer of vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD FISHER SNOWEX and WESTERN brands turf care equipment under the TURFEX brand and industrial maintenance equipment under the SWEEPEX brand. The Company’s product offerings primarily consist of snow and ice control products and accessories. The Company offers a range of snowplows and sand and salt spreaders for light trucks. It also provides a range of related parts and accessories. The Company also provides customized turnkey solutions to governmental agencies such as Departments of Transportation (DOTs) and municipalities. The Company sells its products through a distributor network primarily to professional snowplowers who are contracted to remove snow and ice from commercial municipal and residential areas. The Company’s distribution network worldwide consists of over 2200 points of sale.

Douglas Dynamics Inc

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