BidaskClub lowered shares of Dorman Products, Inc. (NASDAQ:DORM) from a hold rating to a sell rating in a research note released on Friday morning.
A number of other research firms also recently commented on DORM. Zacks Investment Research raised Dorman Products from a hold rating to a buy rating and set a $91.00 target price for the company in a report on Monday, June 26th. B. Riley reaffirmed a neutral rating and set a $74.50 target price on shares of Dorman Products in a report on Saturday, May 13th. Jefferies Group LLC reaffirmed a hold rating and set a $85.00 target price (up previously from $78.00) on shares of Dorman Products in a report on Wednesday, May 3rd. Finally, FBR & Co reaffirmed a mkt perform rating and set a $74.50 target price on shares of Dorman Products in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Dorman Products presently has a consensus rating of Hold and an average price target of $81.25.
Dorman Products (DORM) traded down 1.31% during midday trading on Friday, hitting $64.97. 338,713 shares of the stock traded hands. Dorman Products has a 12 month low of $60.00 and a 12 month high of $88.50. The company has a 50-day moving average of $75.44 and a 200-day moving average of $78.45. The stock has a market cap of $2.21 billion, a PE ratio of 19.75 and a beta of 0.61.
Dorman Products (NASDAQ:DORM) last released its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.01. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The firm had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. During the same period last year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Dorman Products will post $3.45 earnings per share for the current year.
In related news, Director Paul R. Lederer sold 1,800 shares of Dorman Products stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.82, for a total transaction of $134,676.00. Following the completion of the transaction, the director now directly owns 16,961 shares in the company, valued at $1,269,022.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Dorman Products by 161,230.6% in the first quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock valued at $287,394,000 after buying an additional 3,497,091 shares in the last quarter. FMR LLC bought a new position in shares of Dorman Products during the first quarter valued at $29,140,000. Bank of New York Mellon Corp boosted its position in shares of Dorman Products by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 542,854 shares of the auto parts company’s stock valued at $44,585,000 after buying an additional 134,472 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Dorman Products by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,806,822 shares of the auto parts company’s stock valued at $230,525,000 after buying an additional 127,653 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Dorman Products by 48.3% in the first quarter. Bank of America Corp DE now owns 338,751 shares of the auto parts company’s stock valued at $27,822,000 after buying an additional 110,389 shares in the last quarter. Institutional investors own 75.86% 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.
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