Market Overview

UPDATE: Credit Suisse Downgrades Douglas Dynamics on Valuation

Share:
Related PLOW
18 Biggest Mid-Day Gainers For Tuesday
Earnings Scheduled For March 7, 2016

In a report published Wednesday, Credit Suisse analyst Hamzah Mazari downgraded the rating on Douglas Dynamics (NYSE: PLOW) from Neutral to Underperform, but reiterated the $14.00 price target.

In the report, Credit Suisse noted, “Downgrading PLOW shares based on valuation and lower dividend growth driven by unit sales running below normalized levels. We do not see short-term catalysts for the stock and although we view the dividend as safe growth is likely to be relatively muted We are revising our 2013 EPS to $0.51 (from $0.48) and our 2014 EPS estimate to $0.70 (from $0.74) to account for updated guidance combined with a slower ramp in activity levels.”

Douglas Dynamics closed on Tuesday at $14.72.

Latest Ratings for PLOW

DateFirmActionFromTo
Jul 2016Seaport GlobalDowngradesNeutral
May 2016Seaport GlobalUpgradesBuy
Apr 2016Seaport GlobalInitiates Coverage onNeutral

View More Analyst Ratings for PLOW
View the Latest Analyst Ratings

Posted-In: Credit Suisse Hamzah MazariAnalyst Color Downgrades Analyst Ratings

 

Related Articles (PLOW)

View Comments and Join the Discussion!