Dorman Products (DORM) Lifted to “Sell” at BidaskClub

Dorman Products (NASDAQ:DORM) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday.

Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Dorman Products from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Jefferies Group reiterated a “hold” rating and issued a $75.00 price objective on shares of Dorman Products in a research report on Sunday, October 29th. CL King upgraded Dorman Products from a “neutral” rating to a “strong-buy” rating in a research report on Wednesday. B. Riley reiterated a “neutral” rating and issued a $65.00 price objective (down from $75.00) on shares of Dorman Products in a research report on Wednesday, November 1st. Finally, FBR & Co reiterated a “neutral” rating and issued a $65.00 price objective (down from $75.00) on shares of Dorman Products in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. Dorman Products presently has an average rating of “Hold” and an average price target of $68.33.

Shares of Dorman Products (DORM) traded up $1.06 during mid-day trading on Friday, hitting $71.39. The stock had a trading volume of 370,522 shares, compared to its average volume of 294,819. The company has a market cap of $2,371.70, a PE ratio of 21.57, a PEG ratio of 1.69 and a beta of 0.61. Dorman Products has a one year low of $60.93 and a one year high of $88.50.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.07). The company had revenue of $224.60 million during the quarter, compared to the consensus estimate of $233.56 million. Dorman Products had a net margin of 12.53% and a return on equity of 18.32%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. analysts forecast that Dorman Products will post 3.34 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of DORM. YorkBridge Wealth Partners LLC grew its position in shares of 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 valued at $115,000 after purchasing an additional 41 shares during the period. SG Americas Securities LLC acquired a new position in shares of Dorman Products in the 2nd quarter valued at approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 valued at $119,000 after purchasing an additional 118 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in shares of 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 valued at $120,000 after purchasing an additional 139 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its position in Dorman Products by 1,740.0% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,840 shares of the auto parts company’s stock worth $132,000 after acquiring an additional 1,740 shares during the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Dorman Products (DORM) Lifted to “Sell” at BidaskClub” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/06/dorman-products-dorm-lifted-to-sell-at-bidaskclub.html.

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.

Receive News & Ratings for Dorman Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply