Dorman Products, Inc. (DORM) Receives Consensus Rating of “Hold” from Brokerages
Shares of Dorman Products, Inc. (NASDAQ:DORM) have been given an average rating of “Hold” by the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $78.00.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. BidaskClub cut shares of Dorman Products from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Finally, FBR & Co reiterated a “mkt perform” rating and set a $74.50 target price on shares of Dorman Products in a research report on Tuesday, July 18th.
Dorman Products (NASDAQ DORM) traded down 0.42% during midday trading on Thursday, hitting $69.44. The stock had a trading volume of 63,043 shares. The company has a market cap of $2.36 billion, a P/E ratio of 21.11 and a beta of 0.64. The stock’s 50-day moving average is $69.15 and its 200-day moving average is $76.65. Dorman Products has a one year low of $60.00 and a one year high of $88.50.
Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). The business had revenue of $229.26 million for the quarter, compared to the consensus estimate of $225.91 million. Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Equities analysts predict that Dorman Products will post $3.45 EPS for the current fiscal year.
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In other news, Director Paul R. Lederer sold 1,800 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.82, for a total value of $134,676.00. Following the completion of the transaction, the director now 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 Securities & Exchange Commission, which is available through this link. 11.70% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Dorman Products by 161,230.6% in the 1st quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock valued at $287,394,000 after buying an additional 3,497,091 shares during the period. Vanguard Group Inc. grew its holdings in shares of Dorman Products by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,833,910 shares of the auto parts company’s stock valued at $234,562,000 after buying an additional 27,088 shares during the period. Congress Asset Management Co. MA grew its holdings in shares of Dorman Products by 7.9% in the 2nd quarter. Congress Asset Management Co. MA now owns 1,009,387 shares of the auto parts company’s stock valued at $83,547,000 after buying an additional 73,884 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Dorman Products by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 848,572 shares of the auto parts company’s stock valued at $70,236,000 after buying an additional 3,534 shares during the period. Finally, State Street Corp grew its holdings in shares of Dorman Products by 5.3% in the 2nd quarter. State Street Corp now owns 684,554 shares of the auto parts company’s stock valued at $56,661,000 after buying an additional 34,516 shares during the period. 75.57% of the stock is 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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