Zacks Investment Research Downgrades Douglas Dynamics (PLOW) to Hold

Zacks Investment Research lowered shares of Douglas Dynamics (NYSE:PLOW) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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. “

Several other brokerages have also recently commented on PLOW. Craig Hallum boosted their price target on shares of Douglas Dynamics from $43.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, February 27th. ValuEngine cut shares of Douglas Dynamics from a buy rating to a hold rating in a research report on Monday, January 7th.

NYSE PLOW traded up $0.63 on Wednesday, reaching $38.65. The company had a trading volume of 91,981 shares, compared to its average volume of 111,460. The firm has a market cap of $881.03 million, a PE ratio of 20.45 and a beta of 0.68. The company has a current ratio of 2.52, a quick ratio of 1.43 and a debt-to-equity ratio of 0.86. Douglas Dynamics has a 1-year low of $33.54 and a 1-year high of $49.50.

Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings results on Monday, February 25th. The auto parts company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Douglas Dynamics had a net margin of 8.38% and a return on equity of 16.26%. The firm had revenue of $151.80 million for the quarter, compared to analysts’ expectations of $140.27 million. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that Douglas Dynamics will post 2.12 EPS for the current year.

In other news, insider Andrew Dejana bought 6,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $38.13 per share, with a total value of $247,845.00. Following the acquisition, the insider now owns 10,630 shares in the company, valued at $405,321.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah C. Lauber sold 1,115 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $40.63, for a total transaction of $45,302.45. Following the completion of the sale, the chief financial officer now directly owns 10,579 shares in the company, valued at $429,824.77. The disclosure for this sale can be found here. Insiders have sold a total of 21,830 shares of company stock worth $886,953 over the last three months. Insiders own 2.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. First Hawaiian Bank grew its stake in Douglas Dynamics by 178.2% in the 4th quarter. First Hawaiian Bank now owns 829 shares of the auto parts company’s stock valued at $30,000 after buying an additional 531 shares during the last quarter. American Research & Management Co. acquired a new position in Douglas Dynamics in the 1st quarter valued at about $38,000. Quantamental Technologies LLC acquired a new position in Douglas Dynamics in the 1st quarter valued at about $50,000. SG Americas Securities LLC acquired a new position in shares of Douglas Dynamics during the 1st quarter worth approximately $120,000. Finally, Legal & General Group Plc grew its position 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 in the last quarter. 91.35% of the stock is currently owned by institutional investors.

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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