Dorman Products (DORM) Upgraded to Sell by BidaskClub
BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a strong sell rating to a sell rating in a research report report published on Friday.
Other analysts also recently issued research reports about the stock. FBR & Co reiterated a neutral rating and issued a $65.00 target price (down previously from $75.00) on shares of Dorman Products in a report on Monday, October 30th. B. Riley reiterated a neutral rating and issued a $65.00 target price (down previously from $75.00) on shares of Dorman Products in a report on Wednesday, November 1st. CL King upgraded shares of Dorman Products from a neutral rating to a strong-buy rating in a report on Wednesday, January 3rd. Jefferies Group reiterated a hold rating and issued a $75.00 target price on shares of Dorman Products in a report on Sunday, October 29th. Finally, Zacks Investment Research upgraded shares of Dorman Products from a sell rating to a hold rating in a report on Monday, January 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $68.33.
Shares of Dorman Products (NASDAQ:DORM) traded up $1.06 during mid-day trading on Friday, hitting $71.39. 372,300 shares of the stock traded hands, compared to its average volume of 453,825. The stock has a market capitalization of $2,390.00, a P/E ratio of 21.57, a P/E/G ratio of 1.71 and a beta of 0.61. Dorman Products has a 52 week low of $60.93 and a 52 week high of $88.50.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Friday, October 27th. The auto parts company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.07). The firm 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 revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. analysts forecast that Dorman Products will post 3.34 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RK Asset Management LLC grew its position in Dorman Products by 8.4% during the fourth quarter. RK Asset Management LLC now owns 110,883 shares of the auto parts company’s stock valued at $6,779,000 after buying an additional 8,625 shares during the period. Visionary Asset Management Inc. bought a new position in Dorman Products during the third quarter valued at about $204,000. California Public Employees Retirement System grew its position in Dorman Products by 4.1% during the third quarter. California Public Employees Retirement System now owns 71,738 shares of the auto parts company’s stock valued at $5,138,000 after buying an additional 2,838 shares during the period. Janney Montgomery Scott LLC grew its position in Dorman Products by 17.6% during the third quarter. Janney Montgomery Scott LLC now owns 9,520 shares of the auto parts company’s stock valued at $682,000 after buying an additional 1,428 shares during the period. Finally, Zions Bancorporation bought a new position in Dorman Products during the third quarter valued at about $193,000. Institutional investors own 76.23% of the company’s stock.
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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