DuPont de Nemours (NYSE:DD) Shares Gap Up After Strong Earnings

DuPont de Nemours, Inc. (NYSE:DD)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $76.26, but opened at $79.76. DuPont de Nemours shares last traded at $79.97, with a volume of 622,621 shares trading hands.

The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%.

Analyst Ratings Changes

Several analysts have issued reports on DD shares. Citigroup cut their target price on shares of DuPont de Nemours from $92.00 to $88.00 in a research note on Monday. JPMorgan Chase & Co. cut their target price on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. StockNews.com cut shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research upgraded shares of DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a report on Friday, January 17th. Finally, BMO Capital Markets lowered their price target on shares of DuPont de Nemours from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.25.

Institutional Investors Weigh In On DuPont de Nemours

A number of hedge funds have recently bought and sold shares of the company. Hager Investment Management Services LLC acquired a new position in shares of DuPont de Nemours during the fourth quarter valued at about $26,000. Byrne Asset Management LLC acquired a new position in shares of DuPont de Nemours during the fourth quarter valued at about $29,000. Vision Financial Markets LLC acquired a new position in shares of DuPont de Nemours during the fourth quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in shares of DuPont de Nemours during the fourth quarter valued at about $33,000. Finally, Noble Wealth Management PBC acquired a new position in shares of DuPont de Nemours during the fourth quarter valued at about $35,000. 73.96% of the stock is currently owned by institutional investors.

DuPont de Nemours Price Performance

The stock’s 50-day moving average price is $77.53 and its 200 day moving average price is $81.09. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.29.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.