Dorman Products, Inc. (DORM) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Dorman Products, Inc. (NASDAQ:DORM) have been given an average rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $78.00.
DORM has been the topic of several analyst reports. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, June 26th. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, FBR & Co reissued a “mkt perform” rating and set a $74.50 target price on shares of Dorman Products in a report on Tuesday, July 18th.
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In other news, Director Paul R. Lederer sold 1,800 shares of the stock in a transaction 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 sale, the director now directly owns 16,961 shares of the company’s stock, valued at approximately $1,269,022.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its holdings in shares of Dorman Products by 0.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,976 shares of the auto parts company’s stock worth $329,000 after purchasing an additional 11 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Dorman Products by 0.4% during the 2nd quarter. Sheets Smith Wealth Management now owns 3,690 shares of the auto parts company’s stock worth $305,000 after purchasing an additional 15 shares in the last quarter. Alps Advisors Inc. boosted its stake in Dorman Products by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,014 shares of the auto parts company’s stock valued at $498,000 after buying an additional 16 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Dorman Products by 3.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock valued at $115,000 after buying an additional 41 shares in the last quarter. Finally, NGAM Advisors L.P. boosted its stake in Dorman Products by 0.3% in the second quarter. NGAM Advisors L.P. now owns 20,645 shares of the auto parts company’s stock valued at $1,709,000 after buying an additional 52 shares in the last quarter. 75.61% of the stock is currently owned by institutional investors.
Shares of Dorman Products (NASDAQ:DORM) traded down 0.66% on Friday, hitting $67.95. The company’s stock had a trading volume of 230,932 shares. Dorman Products has a 52 week low of $60.00 and a 52 week high of $88.50. The stock’s 50-day moving average price is $69.67 and its 200-day moving average price is $77.76. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 20.65 and a beta of 0.64.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The firm had revenue of $229.26 million during the quarter, compared to analyst estimates of $225.91 million. During the same period in the prior year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that Dorman Products will post $3.45 earnings per share for the current fiscal year.
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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