DuPont de Nemours (NYSE: DD) received a positive boost in its stock forecast from Jefferies Financial Group, which raised its target price from $51.00 to $59.00 in a research report released on Wednesday. With a current buy rating, Jefferies joins a growing list of analysts optimistic about the basic materials company’s performance.
Several other financial institutions have also provided updated ratings for DuPont. Citigroup increased its target price from $47.00 to $50.00, maintaining a buy rating as stated in a report earlier this week. Similarly, Mizuho raised its price objective from $46.00 to $52.00 while assigning an outperform rating. Wolfe Research noted a price increase from $44.00 to $49.00, also giving the stock an outperform rating. In contrast, Deutsche Bank Aktiengesellschaft lowered its price target from $90.00 to $46.00 but retained a buy rating, while BMO Capital Markets reduced its target from $104.00 to $50.00 with an outperform rating.
According to MarketBeat, a total of twelve equity research analysts have rated DuPont with a buy recommendation, while four analysts have rated it as hold and one as sell. The average rating stands at “Moderate Buy” with a consensus price target of $49.46.
Recent Earnings Performance and Guidance
DuPont de Nemours recently reported its earnings results on February 10, 2024. The company achieved earnings per share (EPS) of $0.46 for the quarter, exceeding analyst expectations of $0.43 by $0.03. Revenue for the quarter matched the consensus estimate at $1.69 billion, showing a slight increase of 0.2% compared to the same period last year.
The company’s return on equity stood at 7.37%, although it reported a net margin of –7.03%. For the fiscal year 2026, DuPont has set its EPS guidance between $2.25 and $2.30, with first-quarter guidance at $0.48.
DuPont’s board has also authorized a share buyback plan, designed to repurchase up to $2.00 billion in outstanding shares, which represents approximately 12.2% of its stock. Such buyback initiatives typically suggest that the board believes the company’s shares are undervalued.
Insider Activity and Institutional Interest
In a notable insider transaction, CEO Lori Koch sold 9,011 shares of DuPont on November 28, 2023, at an average price of $39.46, totaling approximately $355,574. Following this sale, she holds 288,326 shares valued at around $11.38 million, reflecting a 3.03% decrease in her ownership. Senior Vice President Erik T. Hoover also sold 6,005 shares during the same period.
As for institutional investors, several firms have made significant changes to their holdings in DuPont. Salomon & Ludwin LLC increased its stake by 186.5% during the third quarter, now owning 318 shares valued at $25,000. Other institutions, including Palisade Asset Management LLC and Financial Life Planners, have also acquired new stakes in the company, contributing to institutional ownership of approximately 73.96%.
Recent reports indicate a mix of sentiment among analysts regarding DuPont’s future growth. While some highlight operational improvements and positive earnings, concerns linger over organic growth and rising short interest, which increased by approximately 23.6% in January, reaching around 9.24 million shares or 2.2% of the float.
DuPont de Nemours continues to navigate the complexities of the market, with its recent earnings beat and analysts’ target increases reflecting a cautiously optimistic outlook for investors.
