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.
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