Dorman Products Inc. (DORM) Downgraded to “Hold” at Zacks Investment Research
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 research firms also recently commented on DORM. B. Riley reissued a neutral rating and set a $49.50 price objective on shares of Dorman Products in a report on Monday, August 1st. Jefferies Group increased their price objective on shares of Dorman Products from $55.00 to $60.00 and gave the company a hold rating in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Dorman Products has a consensus rating of Hold and a consensus price target of $60.63.
Dorman Products (NASDAQ:DORM) opened at 65.11 on Tuesday. Dorman Products has a one year low of $40.17 and a one year high of $67.30. The stock has a market cap of $2.25 billion, a P/E ratio of 23.18 and a beta of 0.69. The company’s 50-day moving average price is $63.27 and its 200-day moving average price is $57.10.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Dorman Products had a net margin of 11.82% and a return on equity of 18.83%. The business earned $209.60 million during the quarter, compared to the consensus estimate of $214.11 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Analysts forecast that Dorman Products will post $2.99 EPS for the current fiscal year.
In related news, Director Paul R. Lederer sold 500 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $62.55, for a total value of $31,275.00. Following the completion of the transaction, the director now owns 34,549 shares of the company’s stock, valued at approximately $2,161,039.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffery Darby sold 490 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $64.00, for a total transaction of $31,360.00. Following the completion of the transaction, the senior vice president now directly owns 11,990 shares of the company’s stock, valued at approximately $767,360. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Dorman Products by 2.0% in the first quarter. State Street Corp now owns 525,985 shares of the company’s stock worth $28,625,000 after buying an additional 10,422 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Dorman Products by 1.0% in the second quarter. Capstone Asset Management Co. now owns 9,073 shares of the company’s stock worth $519,000 after buying an additional 90 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Dorman Products by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 741,026 shares of the company’s stock valued at $40,327,000 after buying an additional 14,637 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Dorman Products by 9.2% in the first quarter. BlackRock Group LTD now owns 35,775 shares of the company’s stock valued at $1,947,000 after buying an additional 3,021 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Dorman Products by 13.5% in the first quarter. UBS Group AG now owns 52,887 shares of the company’s stock valued at $2,878,000 after buying an additional 6,283 shares during the last quarter. 76.46% of the stock is owned by hedge funds and other institutional investors.
Dorman Products Company Profile
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.
Receive News & Stock Ratings for Dorman Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products Inc. and related stocks with our FREE daily email newsletter.