Dorman Products, Inc. (DORM) Lifted to “Hold” at Zacks Investment Research
Dorman Products, Inc. (NASDAQ:DORM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “R&B, Inc. is a leading supplier of OE Dealer Exclusive automotive replacement parts, automotive hardware, brake products, and household hardware to the Automotive Aftermarket and Mass Merchandise markets. Dorman automotive parts and hardware are marketed under the OE Solutions, HELP, AutoGrade, First Stop, Conduct-Tite, Pik-A-Nut and Scan-Tech brand names. “
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Dorman Products from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. FBR & Co reaffirmed a “mkt perform” rating and set a $74.50 price target on shares of Dorman Products in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $81.25.
Dorman Products (NASDAQ DORM) traded up 0.70% during trading on Tuesday, reaching $68.76. The company’s stock had a trading volume of 133,379 shares. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.90 and a beta of 0.64. The stock’s 50-day moving average is $69.40 and its 200 day moving average is $77.66. Dorman Products has a 52-week low of $60.00 and a 52-week high of $88.50.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share 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 analysts’ expectations of $225.91 million. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Dorman Products will post $3.45 EPS for the current fiscal year.
In other Dorman Products 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 value of $134,676.00. Following the transaction, the director now directly owns 16,961 shares of the company’s stock, valued at approximately $1,269,022.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 11.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DORM. YorkBridge Wealth Partners LLC increased its position in Dorman Products by 3.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock worth $115,000 after buying an additional 41 shares during the period. SG Americas Securities LLC bought a new position in Dorman Products in the 2nd quarter worth approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dorman Products by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock worth $119,000 after buying an additional 118 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in Dorman Products by 10.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock worth $120,000 after buying an additional 139 shares during the period. Finally, Victory Capital Management Inc. increased its position in Dorman Products by 10.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock worth $159,000 after buying an additional 180 shares during the period. 75.57% of the stock is currently owned by institutional investors.
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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