Dorman Products, Inc. (DORM) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Dorman Products, Inc. (NASDAQ:DORM) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Dorman Products from a hold rating to a buy rating and set a $92.00 price target on the stock in a research note on Thursday, May 4th. Jefferies Group LLC reiterated a hold rating and set a $85.00 price target (up previously from $78.00) on shares of Dorman Products in a research note on Wednesday, May 3rd. FBR & Co reiterated a mkt perform rating and set a $74.50 price target on shares of Dorman Products in a research note on Tuesday, July 18th. Finally, B. Riley reiterated a neutral rating and set a $74.50 price target on shares of Dorman Products in a research note on Saturday, May 13th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $81.25.

Dorman Products (DORM) traded down 0.35% during midday trading on Thursday, hitting $77.94. The company’s stock had a trading volume of 76,106 shares. The company’s 50 day moving average price is $78.84 and its 200 day moving average price is $78.10. Dorman Products has a 12 month low of $60.00 and a 12 month high of $88.50. The firm has a market cap of $2.67 billion, a P/E ratio of 24.28 and a beta of 0.63.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Tuesday, May 2nd. The auto parts company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.06. The business had revenue of $221.60 million for the quarter, compared to analysts’ expectations of $224.16 million. Dorman Products had a net margin of 12.66% and a return on equity of 18.79%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. Analysts expect that Dorman Products will post $3.47 EPS for the current year.

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In related news, Director Paul R. Lederer sold 7,593 shares of Dorman Products stock in a transaction on Friday, May 5th. The shares were sold at an average price of $82.70, for a total transaction of $627,941.10. Following the transaction, the director now owns 15,873 shares in the company, valued at approximately $1,312,697.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. boosted its position in Dorman Products by 7.7% in the first quarter. FTB Advisors Inc. now owns 1,260 shares of the auto parts company’s stock worth $104,000 after buying an additional 90 shares during the period. YorkBridge Wealth Partners LLC boosted its position in Dorman Products by 7.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,349 shares of the auto parts company’s stock worth $116,000 after buying an additional 98 shares during the period. Victory Capital Management Inc. boosted its position in Dorman Products by 10.3% in the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock worth $159,000 after buying an additional 180 shares during the period. LS Investment Advisors LLC boosted its position in Dorman Products by 91.8% in the first quarter. LS Investment Advisors LLC now owns 2,235 shares of the auto parts company’s stock worth $184,000 after buying an additional 1,070 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new position in Dorman Products during the first quarter worth $188,000. Institutional investors own 77.06% of the company’s stock.

About Dorman Products

Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.