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Dover (DOV) Hits 52-Week High: What's Driving the Stock?
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Shares of industrial products maker, Dover Corporation (DOV - Free Report) touched a fresh 52-week high of $81.50 on Jan 13, before retracing to close the day at $79.65.
Dover has a market cap of roughly $12.4 billion and the average volume of shares traded in the last three months is around 1.48 million. The stock has delivered a solid one-year return of around 50.6%. The company has beaten the Zacks Consensus Estimate in three out of the trailing four quarters, with an average surprise of 0.85%.
Over the past year, Dover has outperformed the Zacks categorized Machinery-General Industrial industry, partly owing to its acquisition strategy and leading technology. The company’s shares gained around 50.6% over this period, compared with roughly 39.7% gain recorded by the industry.
Driving Factors
Dover reiterated its adjusted earnings per share (EPS) range of $3.00−$3.05 for full-year 2016. The company has also initiated guidance of $3.40–$3.60 for full-year 2017 EPS from continued operations. Recovery in drilling and artificial lift markets, along with consistent solid activity in Printing & Identification platform, synergies from Wayne acquisition and recovery in North American upstream oil & gas markets will boost Dover’s results.
Dover anticipates its Printing & Identification businesses to continue to perform well in 2017. Further, its drilling and artificial lift markets continue to recover. These factors will help offset lingering weakness in longer cycle oil & gas exposed markets, along with persistent headwinds in its retail refrigeration business related to production inefficiencies.
Dover expects its revenue and earnings to grow in the majority of its businesses. Moreover, recovery in North American upstream oil & gas markets, recent acquisitions and restructuring activities in 2016 will provide significant carry-over benefits to the company in the 2017. Overall these factors position Dover well for double-digit EPS growth in 2017.
Dover currently carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks in the same space include Altra Industrial Motion Corp. , ABB Ltd. and RBC Bearings Inc. . All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion has a positive average earnings surprise of 8.06% in the last four quarters. ABB Ltd. generated a positive average earnings surprise of 23.50% in the trailing four quarters. RBC Bearings has delivered an average positive earnings surprise of 1.60% in the last four quarters.
Zacks' Top 10 Stocks for 2017
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Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
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Dover (DOV) Hits 52-Week High: What's Driving the Stock?
Shares of industrial products maker, Dover Corporation (DOV - Free Report) touched a fresh 52-week high of $81.50 on Jan 13, before retracing to close the day at $79.65.
Dover has a market cap of roughly $12.4 billion and the average volume of shares traded in the last three months is around 1.48 million. The stock has delivered a solid one-year return of around 50.6%. The company has beaten the Zacks Consensus Estimate in three out of the trailing four quarters, with an average surprise of 0.85%.
Dover Corporation Price and Consensus
Dover Corporation Price and Consensus | Dover Corporation Quote
Over the past year, Dover has outperformed the Zacks categorized Machinery-General Industrial industry, partly owing to its acquisition strategy and leading technology. The company’s shares gained around 50.6% over this period, compared with roughly 39.7% gain recorded by the industry.
Driving Factors
Dover reiterated its adjusted earnings per share (EPS) range of $3.00−$3.05 for full-year 2016. The company has also initiated guidance of $3.40–$3.60 for full-year 2017 EPS from continued operations. Recovery in drilling and artificial lift markets, along with consistent solid activity in Printing & Identification platform, synergies from Wayne acquisition and recovery in North American upstream oil & gas markets will boost Dover’s results.
Dover anticipates its Printing & Identification businesses to continue to perform well in 2017. Further, its drilling and artificial lift markets continue to recover. These factors will help offset lingering weakness in longer cycle oil & gas exposed markets, along with persistent headwinds in its retail refrigeration business related to production inefficiencies.
Dover expects its revenue and earnings to grow in the majority of its businesses. Moreover, recovery in North American upstream oil & gas markets, recent acquisitions and restructuring activities in 2016 will provide significant carry-over benefits to the company in the 2017. Overall these factors position Dover well for double-digit EPS growth in 2017.
Dover currently carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks in the same space include Altra Industrial Motion Corp. , ABB Ltd. and RBC Bearings Inc. . All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion has a positive average earnings surprise of 8.06% in the last four quarters. ABB Ltd. generated a positive average earnings surprise of 23.50% in the trailing four quarters. RBC Bearings has delivered an average positive earnings surprise of 1.60% in the last four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>