Oppenheimer Maintains a 'Perform' on Douglas Dynamics (PLOW); Channel Checks Suggest Downside Risk

Oppenheimer maintains a 'Perform' on Douglas Dynamics (NYSE: PLOW).

Analyst, Jim Giannakouros, said, "We believe PLOW's defensive characteristics and solid 6% dividend yield have driven recent outperformance (PLOW +4% since 6/15 vs. XLI and S&P ~2.5%). However, one of the mildest winters in decades and our recent channel checks suggest downward risk to PLOW's preliminary guidance ranges. While pent-up demand built over the '08-'11 high snowfall/low volume time frame should support sales over the next few years, we believe an early winter is necessary for PLOW to achieve volumes within its 10-year historical 40K-70K unit volume range (on which 2012 guidance is predicated). We believe further share price appreciation will prove challenging in a soft selling environment."

For an analyst ratings summary and ratings history on Douglas Dynamics click here. For more ratings news on Douglas Dynamics click here.

Shares of Douglas Dynamics closed at $13.37 yesterday.

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