Dolby Laboratories (DLB) Gets a Buy Rating from Barrington

In a report released today, James Goss from Barrington maintained a Buy rating on Dolby Laboratories (DLBResearch Report), with a price target of $70.00. The company’s shares closed last Monday at $53.58.

According to TipRanks.com, Goss is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.8% and a 41.9% success rate. Goss covers the Services sector, focusing on stocks such as Clear Channel Outdoor, Nexstar Media Group, and Lions Gate Ent Cl A.

Dolby Laboratories has an analyst consensus of Strong Buy, with a price target consensus of $70.33, a 25.1% upside from current levels. In a report issued on March 13, J.P. Morgan also upgraded the stock to Buy with a $66.00 price target.

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Based on Dolby Laboratories’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $292 million and net profit of $48.75 million. In comparison, last year the company earned revenue of $302 million and had a net profit of $98.22 million.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DLB in relation to earlier this year.

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Dolby Laboratoties, Inc. designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.