Dorman Products (DORM) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a sell rating to a hold rating in a report issued on Saturday morning.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Dorman Products from a sell rating to a hold rating in a report on Monday, January 1st. Jefferies Group reiterated a hold rating and issued a $75.00 price target on shares of Dorman Products in a report on Sunday, October 29th. B. Riley reiterated a neutral rating and issued a $65.00 price target (down from $75.00) on shares of Dorman Products in a report on Wednesday, November 1st. FBR & Co reiterated a neutral rating and issued a $65.00 price target (down from $75.00) on shares of Dorman Products in a report on Monday, October 30th. Finally, CL King upgraded Dorman Products from a neutral rating to a strong-buy rating in a report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Dorman Products has a consensus rating of Hold and an average price target of $68.33.

Shares of Dorman Products (NASDAQ DORM) traded up $0.76 during midday trading on Friday, hitting $71.74. The stock had a trading volume of 154,997 shares, compared to its average volume of 306,190. Dorman Products has a 12-month low of $60.93 and a 12-month high of $88.50. The stock has a market capitalization of $2,419.22, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.07). Dorman Products had a return on equity of 18.32% and a net margin of 12.53%. The business had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $233.56 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. research analysts expect that Dorman Products will post 3.34 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DORM. YorkBridge Wealth Partners LLC increased its holdings in Dorman Products by 3.0% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock worth $115,000 after purchasing an additional 41 shares during the period. SG Americas Securities LLC purchased a new position in Dorman Products during the 2nd quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Dorman Products by 8.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock worth $119,000 after purchasing an additional 118 shares during the period. Winslow Evans & Crocker Inc. increased its holdings in Dorman Products by 1,740.0% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,840 shares of the auto parts company’s stock worth $132,000 after purchasing an additional 1,740 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Dorman Products by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,268 shares of the auto parts company’s stock worth $188,000 after purchasing an additional 338 shares during the period. Institutional investors own 76.23% of the company’s stock.

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Dorman Products Company Profile

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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