Dover Corp. (DOV) Stock Price Target Moved to $76.00 at Stifel Nicolaus

Dover Corp. (NYSE: DOV) shares rose on Tuesday Dec 13 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.

Meanwhile, the Dow DJIA, +0.47% climbed 106 points, or 0.6%, to 19,905. If the Dow finishes higher, it will notch its seventh straight gain.

The S&P 500 index SPX, +0.56% gained 10.45 points, or 0.5%, to 2,267 and the tech-heavy Nasdaq Composite Index COMP, +1.02% added 48 points, or 0.9%, to 5,461.

Both the S&P 500 index SPX, +0.56% and Nasdaq Composite COMP, +1.02% ended lower on Monday, with investors appearing reluctant to push shares higher ahead of the Fed meeting

Dover Corp. (NYSE: DOV) had its price target raised by equities researchers at Stifel Nicolaus from $72.00 to $76.00. The company currently has a rating of Hold on the stock. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has secured a consensus one-year price target of $74.87, lower than the opening price of $77.14. Dover Corp. stock has a 52-week high of $78.27.

Dover Corp. (NYSE: DOV) shares last traded at $77.12, which is a jump of $0.37 or 0.48% compared to the previous closing price. Opening at $77.14, they varied from $76.96 and $77.91 throughout the day.

Dover Corp. (NYSE: DOV) now has a market cap of 11.98B.

Dover Corp. (NYSE: DOV) Average Daily Trading Volume

The stock’s average daily volume is 1,664,880 shares out of a total float 152,991,000 and some 100,424 shares crossed the trading desk yesterday, lower than the average. Swing traders often use upticks in trading volume to pinpoint large volume accumulation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.

As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.

Dover Corp. (NYSE: DOV) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

Trades for Dover Corp. (NYSE: DOV) have ranged from $50.91 – 78.27, and the stock now has a 50-day MA of $70.84 and 200-day MA of $70.76. Today’s last price is 1.47%% lower than the 52 week high of $78.27.

Earnings growth is a critical factor to research when investing in stocks and investors identify companies that have been successful at growing their earnings at least 25% or more for the past 3 years.

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