DuPont de Nemours (NYSE:DD) Shares Gap Up on Earnings Beat

DuPont de Nemours, Inc. (NYSE:DD) shares gapped up prior to trading 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.

The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price target on DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Citigroup decreased their price target on DuPont de Nemours from $92.00 to $88.00 in a research report on Monday. Morgan Stanley upped their price objective on shares of DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of DuPont de Nemours from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.42.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Hager Investment Management Services LLC purchased a new position in DuPont de Nemours during the fourth quarter worth about $26,000. Byrne Asset Management LLC purchased a new position in shares of DuPont de Nemours in the 4th quarter worth approximately $29,000. Vision Financial Markets LLC bought a new position in shares of DuPont de Nemours in the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new stake in shares of DuPont de Nemours during the fourth quarter valued at approximately $33,000. Finally, Noble Wealth Management PBC bought a new stake in DuPont de Nemours during the fourth quarter worth $35,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

DuPont de Nemours Stock Performance

The firm has a market cap of $33.66 billion, a PE ratio of 42.32, a PEG 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. The company has a 50-day simple moving average of $77.57 and a two-hundred day simple moving average of $81.07.

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.