Wells Fargo & Company Has Lowered Expectations for Dover (NYSE:DOV) Stock Price

Dover (NYSE:DOV) had its price objective decreased by equities research analysts at Wells Fargo & Company from $205.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.96% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Barclays raised their price target on shares of Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Citigroup upped their price target on shares of Dover from $226.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.18.

Dover Stock Performance

NYSE DOV opened at $186.99 on Tuesday. The firm has a market cap of $25.65 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $196.93 and its 200-day moving average is $188.54. Dover has a 12-month low of $143.96 and a 12-month high of $208.26.

Institutional Investors Weigh In On Dover

A number of hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in Dover in the third quarter worth $33,000. Fairscale Capital LLC purchased a new stake in Dover during the 2nd quarter valued at about $34,000. Ashton Thomas Private Wealth LLC bought a new position in Dover during the 2nd quarter worth approximately $41,000. Avior Wealth Management LLC increased its stake in Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares during the period. Finally, Coastline Trust Co purchased a new stake in shares of Dover during the third quarter valued at approximately $50,000. 84.46% of the stock is currently owned by institutional investors.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.