Dorman Products, Inc. (DORM) Cut to “Sell” at BidaskClub
Dorman Products, Inc. (NASDAQ:DORM) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
A number of other analysts have also issued reports on DORM. Zacks Investment Research lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Jefferies Group LLC restated a “hold” rating and set a $85.00 target price (up previously from $78.00) on shares of Dorman Products in a research report on Wednesday, May 3rd. B. Riley restated a “neutral” rating and set a $74.50 target price on shares of Dorman Products in a research report on Monday, May 8th. Finally, FBR & Co restated a “mkt perform” rating and set a $74.50 target price on shares of Dorman Products in a research 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’s stock. The company currently has an average rating of “Hold” and an average price target of $81.25.
Shares of Dorman Products (NASDAQ:DORM) traded down 1.31% on Friday, hitting $64.97. The stock had a trading volume of 338,713 shares. The company’s 50 day moving average is $75.44 and its 200 day moving average is $78.45. Dorman Products has a one year low of $60.00 and a one year high of $88.50. 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 announced its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (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 quarter last year, the business posted $0.75 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Dorman Products will post $3.45 EPS for the current fiscal year.
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In related news, Director Paul R. Lederer sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.82, for a total transaction of $134,676.00. Following the sale, the director now 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. 11.70% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in shares of Dorman Products by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 152,936 shares of the auto parts company’s stock worth $12,561,000 after buying an additional 11,605 shares during the period. Motley Fool Asset Management LLC bought a new position in shares of Dorman Products during the first quarter worth $2,952,000. Tributary Capital Management LLC raised its position in shares of Dorman Products by 11.1% in the first quarter. Tributary Capital Management LLC now owns 218,115 shares of the auto parts company’s stock worth $17,914,000 after buying an additional 21,722 shares during the period. Paradice Investment Management LLC raised its position in shares of Dorman Products by 67.8% in the first quarter. Paradice Investment Management LLC now owns 86,742 shares of the auto parts company’s stock worth $7,124,000 after buying an additional 35,040 shares during the period. Finally, Gotham Asset Management LLC raised its position in shares of Dorman Products by 338.1% in the first quarter. Gotham Asset Management LLC now owns 16,860 shares of the auto parts company’s stock worth $1,385,000 after buying an additional 13,012 shares during the period. 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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