Donaldson Company, Inc. (DCI) Cut to Hold at Zacks Investment Research

Donaldson Company, Inc. (NYSE:DCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, August 9th.

According to Zacks, “Donaldson has a decent earnings surprise history with three beats over the trailing four quarters. Year to date, the company’s shares have outperformed the industry average. The company’s Engine Products segment has been showing great momentum, benefiting from stabilization in market conditions and robust sales of replacement parts. The company’s strategy of winning first-fit programs, aftermarket growth, constant geographic expansion and fostering innovative technology are likely to act as growth catalysts in the coming quarters. However, Donaldson’s sales continue to be hurt by prolonged weakness in the gas turbine market. Soft demand for industrial filtration solutions could also hamper growth. The mixed outlook provided by clients makes the company believe that end markets will not see any meaningful rebound till the end of fiscal 2017. Also, currency fluctuations and stiff competition add to Donaldson’s woes.”

Several other research analysts have also recently commented on DCI. BidaskClub upgraded shares of Donaldson from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Donaldson in a report on Thursday, June 1st. Stifel Nicolaus restated a “hold” rating and set a $48.00 target price (up previously from $45.00) on shares of Donaldson in a report on Friday, June 2nd. Finally, Jefferies Group LLC upgraded shares of Donaldson from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Wednesday, May 31st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Donaldson presently has a consensus rating of “Hold” and an average target price of $48.25.

Shares of Donaldson (NYSE:DCI) traded up 0.13% during trading on Wednesday, reaching $46.35. The company had a trading volume of 333,855 shares. Donaldson has a 52-week low of $35.59 and a 52-week high of $48.91. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 27.59 and a beta of 1.22. The stock has a 50 day moving average of $46.71 and a 200 day moving average of $45.51.

Donaldson (NYSE:DCI) last released its quarterly earnings results on Thursday, June 1st. The industrial products company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $608.20 million during the quarter, compared to analysts’ expectations of $580.44 million. Donaldson had a net margin of 9.72% and a return on equity of 28.12%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. Equities research analysts forecast that Donaldson will post ($0.38) EPS for the current year.

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In other news, Director John Wiehoff sold 14,400 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $46.33, for a total value of $667,152.00. Following the transaction, the director now directly owns 59,001 shares of the company’s stock, valued at $2,733,516.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Several institutional investors have recently modified their holdings of DCI. BlackRock Inc. raised its position in shares of Donaldson by 5,553.3% in the first quarter. BlackRock Inc. now owns 10,390,356 shares of the industrial products company’s stock valued at $472,970,000 after buying an additional 10,206,564 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Donaldson by 8.3% in the first quarter. Vanguard Group Inc. now owns 12,152,840 shares of the industrial products company’s stock valued at $553,197,000 after buying an additional 930,432 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Donaldson by 163.8% in the second quarter. Janus Henderson Group PLC now owns 1,479,606 shares of the industrial products company’s stock valued at $67,381,000 after buying an additional 918,729 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Donaldson by 1,689.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 889,372 shares of the industrial products company’s stock worth $40,502,000 after buying an additional 839,672 shares in the last quarter. Finally, Koch Industries Inc. acquired a new position in Donaldson during the second quarter worth approximately $618,000. 78.17% of the stock is currently owned by institutional investors.

About Donaldson

Donaldson Company, Inc is a manufacturer of filtration systems and replacement parts. The Company’s segments include Engine Products, Industrial Products and Corporate. The Company’s products are manufactured at approximately 44 plants around the world and through three joint ventures. The Company offers its products under the Ultra-Web, PowerCore and Donaldson brands.

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