Should You Buy It? Take the Over on Dover
At Wednesday's closing price of $44.34, Dover (DOV) shares are down more than 10% after the company delivered better-than-expected third-quarter results Oct. 24.
At current levels, the stock is valued at just 12.3 times expected 2008 earnings of $3.62 a share. This is a 33% discount to the company's historical average valuation, and a 12% discount to the benchmark S&P 500.
Given all these positives, should you buy shares in Dover, or will the stock continue to lag the overall market?
Dover is a conglomerate of more than 40 companies aligned across four divisions. The company's businesses address supply end markets, including technology, energy and machinery. Dover makes everything from printers and circuit boards to aerospace parts, truck winches and drill bits for oil and natural gas exploration.
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