Investors seeking ways to capitalize on this harsh winter’s heavier snowfall can consider buying shares of Douglas Dynamics, according to D.A. Davidson. In a Friday note, the investment firm laid out its top three ways to play the ongoing cold weather. Analyst Michael Shlisky noted that snowfall currently appears to be at or above its normal levels in the Northeast, and well ahead of last year. Meanwhile, the Midwest seems to be experiencing its harshest winter in over a decade. “In the Northeast region, the average major city saw ~6 inches of snow in December, slightly above the long-term average and 3x what was seen in the prior year,” he wrote. “In the Midwest, where winter is in full swing by December, the average large city saw 12.8 inches of snow in December, over 3x what was seen in the prior year and the most since 2013-14.” This ongoing cold spell provides tailwinds for stocks such as Douglas Dynamics , which manufacturers snowplows and other de-icing equipment. The stock has surged 38% over the last 12 months. Shlisky pointed out that the Northeast is Douglas Dynamics’ most important region. “This winter seems to be off to a good start, and our basic math suggested that normalized Attachments EBITDA could be ~$84M — our current estimate for 2026 is ~$59M,” he wrote. “When combined with M & A expansions outside of Snow & Ice for the first time in over a decade, it lays the groundwork for substantial upside from here.” PLOW 1Y mountain Douglas Dynamics shares over the past year Shlisky is similarly bullish on Toro Co ., which manufactures and maintains equipment for snow and ice management, among others. The analyst said he will be meeting with management and may update his estimates following those conversations. “The company is seeing a combination of strength across Golf, Underground Construction, and Snow, as well as easy weather comps in Residential and Landscape/Grounds. When combined with ongoing cost-containment efforts, the company appears poised to beat expectations in FY:26,” he wrote. Shares of Toro have added less than 1% over the last 12 months. Similarly, the analyst highlighted Swiss machinery maker Aebi Schmidt . Since going public last July, the stock has added 13%. Shlisky noted that current consensus expectations of over 20% EBITDA growth next year may prove conservative. “Management has already noted expectations for organic growth in 2026. Besides the favorable regional snowfall trend, a return to growth in Final Mile appears imminent, and businesses such as Airport are already booked for 2026,” he said. AEBI 3M mountain Aebi Schmidt stock performanc over the past three months