Log in

Dorman Products (NASDAQ:DORM) Stock Rating Lowered by Zacks Investment Research

Monday, June 29, 2020 | MarketBeat

Dorman Products (NASDAQ:DORM) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, "Dorman Products, Inc. is a leading supplier of Dealer Exclusive replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman products are marketed under the Dorman, OE Solutions, HELP!, AutoGrade, First Stop, Conduct-Tite, TECHoice, Dorman Hybrid Drive Batteries and Dorman HD Solutions brand names. "

Several other equities research analysts have also weighed in on DORM. Stephens lifted their price target on Dorman Products from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. B. Riley dropped their target price on Dorman Products from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, March 17th. ValuEngine downgraded Dorman Products from a "buy" rating to a "hold" rating in a report on Friday, May 1st. CL King raised Dorman Products from a "neutral" rating to a "buy" rating in a report on Thursday, March 19th. Finally, BidaskClub downgraded Dorman Products from a "buy" rating to a "hold" rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. The stock currently has an average rating of "Hold" and a consensus target price of $57.50.

Shares of NASDAQ DORM traded up $2.84 during mid-day trading on Monday, hitting $66.87. 76,759 shares of the stock traded hands, compared to its average volume of 216,839. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.89 and a current ratio of 2.72. Dorman Products has a 52 week low of $44.49 and a 52 week high of $89.65. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.16 and a beta of 0.79. The stock has a fifty day moving average price of $68.68 and a 200-day moving average price of $67.22.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Monday, April 27th. The auto parts company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.65 by $0.01. Dorman Products had a return on equity of 10.66% and a net margin of 8.27%. The company had revenue of $257.70 million for the quarter, compared to analyst estimates of $236.09 million. During the same period in the previous year, the company posted $0.79 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Dorman Products will post 2.47 EPS for the current fiscal year.

In other news, SVP Jeffery Darby sold 1,376 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $76.94, for a total transaction of $105,869.44. Following the transaction, the senior vice president now directly owns 17,853 shares of the company's stock, valued at $1,373,609.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 11.10% of the company's stock.

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Dorman Products by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 6,824 shares of the auto parts company's stock valued at $476,000 after buying an additional 1,231 shares during the period. Charles Schwab Investment Management Inc. grew its position in Dorman Products by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,163 shares of the auto parts company's stock valued at $18,337,000 after buying an additional 9,120 shares during the period. Barclays PLC grew its position in Dorman Products by 50.4% during the fourth quarter. Barclays PLC now owns 41,477 shares of the auto parts company's stock valued at $3,140,000 after buying an additional 13,902 shares during the period. Eaton Vance Management grew its position in Dorman Products by 17.3% during the fourth quarter. Eaton Vance Management now owns 269,813 shares of the auto parts company's stock valued at $20,429,000 after buying an additional 39,836 shares during the period. Finally, Atria Investments LLC bought a new stake in Dorman Products during the fourth quarter valued at approximately $320,000. 78.60% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Company Profile

Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.

Read More: Preferred Stock

Get a free copy of the Zacks research report on Dorman Products (DORM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Tech Stocks to Buy Now For a Post Coronavirus Economy

The Covid-19 pandemic has created a new “tech wreck”. But unlike the broad selloff at the end of 2018, this downturn has been more selective. Some stocks that looked like they were a little overbought have seen their share prices lowered.

In some cases, there was a legitimate reason for this. However, in other cases, it was likely a result of profit-taking disguised as something else. That’s the nature of a crisis. It gives investors the cover to do what they wanted to do anyway. But once investors start to sell, it can trigger a herd mentality.

And that’s when savvy investors start to look for opportunities. Because as Warren Buffett famously said, “Be greedy when others are fearful.” Tech stocks will lead the way back when the pandemic is over. Because if there’s one thing this moment in time is teaching us, it’s that we’re not going to be less dependent on technology. Businesses aren’t going to be doing less digital advertising. Consumers aren’t going to do less e-commerce.

But the fundamentals still matter. That’s why one of the common traits of many of these companies is that they have rock-solid balance sheets.

View the "7 Tech Stocks to Buy Now For a Post Coronavirus Economy".

30 Days of MarketBeat All Access for $1.00

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

  • Best-in-Class Portfolio Monitoring

    View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

  • Stock Ideas and Recommendations

    Get daily stock ideas top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

  • Advanced Stock Screeners and Research Tools

    Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your Risk-Free Trial Subscription Here

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.