B. Riley Reaffirms “Neutral” Rating for Dorman Products Inc. (DORM)
Dorman Products Inc. (NASDAQ:DORM)‘s stock had its “neutral” rating reissued by analysts at B. Riley in a report released on Saturday. They currently have a $74.50 price target on the auto parts company’s stock. B. Riley’s target price suggests a potential downside of 9.80% from the stock’s current price.
Other analysts have also 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 target price on the stock in a research report on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and issued a $85.00 target price (up previously from $78.00) on shares of Dorman Products in a research report on Wednesday, May 3rd. Finally, FBR & Co lowered shares of Dorman Products from an “outperform” rating to a “market perform” rating and raised their target price for the company from $68.00 to $80.00 in a research report on Thursday, February 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Dorman Products presently has a consensus rating of “Hold” and a consensus price target of $82.88.
Dorman Products (NASDAQ:DORM) opened at 82.59 on Friday. Dorman Products has a one year low of $51.16 and a one year high of $88.50. The firm has a market capitalization of $2.83 billion, a P/E ratio of 25.73 and a beta of 0.60. The stock has a 50 day moving average price of $81.00 and a 200 day moving average price of $74.16.
Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, May 2nd. The auto parts company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Dorman Products had a net margin of 11.87% and a return on equity of 18.49%. The firm had revenue of $221.60 million for the quarter, compared to analyst estimates of $224.16 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that Dorman Products will post $3.47 EPS for the current fiscal year.
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In other 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 $1,312,697.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael Kealey sold 20,000 shares of Dorman Products stock in a transaction on Monday, February 27th. The stock was sold at an average price of $77.94, for a total transaction of $1,558,800.00. Following the transaction, the senior vice president now owns 11,338 shares in the company, valued at approximately $883,683.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,013 shares of company stock worth $2,461,179. 11.70% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Invictus RG raised its position in shares of Dorman Products by 598.1% in the first quarter. Invictus RG now owns 5,850 shares of the auto parts company’s stock worth $480,000 after buying an additional 5,012 shares during the period. BlackRock Inc. raised 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 worth $287,394,000 after buying an additional 3,497,091 shares during the period. Geode Capital Management LLC raised its position in shares of Dorman Products by 9.4% in the first quarter. Geode Capital Management LLC now owns 251,649 shares of the auto parts company’s stock worth $20,667,000 after buying an additional 21,645 shares during the period. Vanguard Group Inc. raised 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 worth $230,525,000 after buying an additional 127,653 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in shares of Dorman Products by 4.7% in the first quarter. Thrivent Financial For Lutherans now owns 17,100 shares of the auto parts company’s stock worth $1,404,000 after buying an additional 760 shares during the period. Institutional investors own 74.38% of the company’s stock.
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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