Dorman Products, Inc. (DORM) Downgraded to Sell at Zacks Investment Research
Dorman Products, Inc. (NASDAQ:DORM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
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. “
Several other equities analysts have also commented on the company. BidaskClub lowered Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, August 18th. FBR & Co reissued a “mkt perform” rating and issued a $74.50 target price on shares of Dorman Products in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 target price on shares of Dorman Products in a report on Sunday, October 29th. Finally, B. Riley dropped their target price on Dorman Products from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.33.
Dorman Products (DORM) traded down $0.11 during trading hours on Friday, reaching $68.81. The company had a trading volume of 115,029 shares, compared to its average volume of 171,653. The stock has a market capitalization of $2.34 billion, a PE ratio of 20.98 and a beta of 0.60.
Dorman Products (NASDAQ:DORM) last posted its earnings results on Friday, October 27th. The auto parts company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.07). The business had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $233.56 million. Dorman Products had a net margin of 12.53% and a return on equity of 18.32%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. equities research analysts predict that Dorman Products will post 3.34 EPS for the current year.
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In other Dorman Products news, Director Paul R. Lederer sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $74.82, for a total transaction of $134,676.00. Following the transaction, the director now owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.70% of the company’s stock.
Several hedge funds have recently modified their holdings of DORM. BlackRock Inc. grew its holdings in shares of Dorman Products by 161,230.6% during the first quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock worth $287,394,000 after purchasing an additional 3,497,091 shares during the last quarter. FMR LLC purchased a new position in shares of Dorman Products during the first quarter worth about $29,140,000. Vanguard Group Inc. grew its holdings in shares of Dorman Products by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,806,822 shares of the auto parts company’s stock worth $230,525,000 after purchasing an additional 127,653 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Dorman Products by 369.3% during the second quarter. Fiera Capital Corp now owns 139,577 shares of the auto parts company’s stock worth $11,553,000 after purchasing an additional 109,835 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Dorman Products by 15.8% during the third quarter. Conestoga Capital Advisors LLC now owns 571,900 shares of the auto parts company’s stock worth $40,959,000 after purchasing an additional 78,060 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors.
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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