Do Wall Street Analysts Like Dover Stock?

With a market cap of $24.95 billion, Dover Corporation (DOV) is a diversified global manufacturer headquartered in Downers Grove, Illinois. Specializing in a wide range of industrial products and solutions, Dover serves numerous industries, including energy, refrigeration, printing, and fluid handling. Dover’s commitment to engineering excellence and operational efficiency enables it to meet the evolving needs of its diverse global customers, driving progress and reliability across the industries it serves.

DOV has outperformed the broader market over the last year. The stock has gained 29.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27%. Also, in 2024, the stock has gained 18%, compared to SPX's 16.8% gains on a YTD basis.

Narrowing the focus, DOV also outperformed the Industrial Select Sector SPDR Fund (XLI). The exchange-traded fund has gained 12.7% on a YTD basis.

On Jul. 25, DOV reported its Q2 results. Its revenue rose 3.7% year over year to $2.18 billion. The company’s adjusted net earnings were $327 million, and its adjusted EPS rose 15.1% to $2.36. DOV shares closed up more than 5% on the day the results were released but have been on a downtrend since then.

For the current fiscal year, ending in December, analysts expect DOV’s EPS to grow 4.2% to $9.17 on a diluted basis. The company's earnings surprise history is robust. It beat or matched the consensus estimate in all four quarters.

Among the 12 analysts covering DOV stock, the consensus rating is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings and four “Holds.”

On Jul. 26, Walter Liptak from Seaport Global maintained a “Buy” rating on Dover, with a price target of $195, which indicates a 7.5% upside from the current levels.

The mean price target of $202.58 represents an 11.7% premium compared to DOV’s current price levels. The Street-high price target of $219 suggests an upside potential of 20.7%.

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On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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