Douglas Dynamics (PLOW) Downgraded by TheStreet

TheStreet lowered shares of Douglas Dynamics (NYSE:PLOW) from a b rating to a c+ rating in a research note issued to investors on Monday, May 6th, TheStreetRatingsTable reports.

Several other brokerages also recently weighed in on PLOW. Zacks Investment Research raised Douglas Dynamics from a hold rating to a strong-buy rating and set a $49.00 target price for the company in a research note on Saturday, March 2nd. Craig Hallum upped their target price on Douglas Dynamics from $43.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, February 27th. Finally, ValuEngine downgraded Douglas Dynamics from a buy rating to a hold rating in a research note on Monday, January 7th.

NYSE:PLOW traded down $0.44 during trading hours on Monday, reaching $37.66. The company had a trading volume of 62,800 shares, compared to its average volume of 112,013. Douglas Dynamics has a 1-year low of $33.54 and a 1-year high of $49.50. The company has a market capitalization of $882.18 million, a PE ratio of 19.93 and a beta of 0.68. The company has a current ratio of 2.80, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94.

Douglas Dynamics (NYSE:PLOW) last announced its quarterly earnings results on Monday, May 6th. The auto parts company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. Douglas Dynamics had a return on equity of 16.34% and a net margin of 8.53%. The company had revenue of $93.20 million during the quarter, compared to the consensus estimate of $84.37 million. During the same period in the previous year, the company posted ($0.03) earnings per share. Douglas Dynamics’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that Douglas Dynamics will post 1.95 earnings per share for the current fiscal year.

In other news, Chairman James L. Janik sold 14,028 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $40.63, for a total transaction of $569,957.64. Following the completion of the transaction, the chairman now directly owns 218,002 shares in the company, valued at approximately $8,857,421.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert L. Mccormick sold 6,687 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $40.63, for a total value of $271,692.81. Following the transaction, the insider now owns 16,988 shares of the company’s stock, valued at $690,222.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,830 shares of company stock valued at $886,953. 2.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sapphire Star Partners LP grew its holdings in shares of Douglas Dynamics by 2.2% during the 4th quarter. Sapphire Star Partners LP now owns 17,360 shares of the auto parts company’s stock worth $623,000 after purchasing an additional 367 shares during the period. Legal & General Group Plc grew its holdings in shares of Douglas Dynamics by 12.5% during the 4th quarter. Legal & General Group Plc now owns 4,205 shares of the auto parts company’s stock worth $151,000 after purchasing an additional 466 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Douglas Dynamics by 8.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,144 shares of the auto parts company’s stock worth $234,000 after purchasing an additional 484 shares during the period. First Hawaiian Bank grew its holdings in shares of Douglas Dynamics by 178.2% during the 4th quarter. First Hawaiian Bank now owns 829 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 531 shares during the period. Finally, North Star Investment Management Corp. grew its holdings in shares of Douglas Dynamics by 0.7% during the 1st quarter. North Star Investment Management Corp. now owns 87,347 shares of the auto parts company’s stock worth $3,325,000 after purchasing an additional 632 shares during the period. Institutional investors and hedge funds own 89.78% 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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