Dorman Products Inc. (NASDAQ:DORM) Receives $57.17 Average Price Target from Analysts
Dorman Products Inc. (NASDAQ:DORM) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $57.17.
A number of research analysts recently issued reports on DORM shares. Zacks Investment Research upgraded shares of Dorman Products from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, June 28th. Jefferies Group boosted their target price on shares of Dorman Products from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, July 27th. Finally, B. Riley restated a “neutral” rating and set a $49.50 target price on shares of Dorman Products in a research report on Monday, August 1st.
Dorman Products (NASDAQ:DORM) opened at 63.90 on Wednesday. The stock’s 50 day moving average price is $63.44 and its 200 day moving average price is $57.29. The company has a market capitalization of $2.20 billion, a PE ratio of 22.75 and a beta of 0.69. Dorman Products has a 12-month low of $40.17 and a 12-month high of $67.30.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Dorman Products will post $2.99 EPS for the current fiscal year.
In other Dorman Products news, SVP Jeffery Darby sold 490 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $64.00, for a total value of $31,360.00. Following the completion of the transaction, the senior vice president now owns 11,990 shares in the company, valued at $767,360. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul R. Lederer sold 500 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $62.55, for a total transaction 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 disclosure for this sale can be found here. 11.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Dorman Products by 20.0% in the second quarter. BlackRock Inc. now owns 2,168 shares of the company’s stock worth $124,000 after buying an additional 361 shares during the period. Advisor Group Inc. bought a new stake in Dorman Products during the second quarter worth approximately $186,000. LaSalle Street Capital Management LLC bought a new stake in Dorman Products during the second quarter worth approximately $203,000. Bancorpsouth Inc. bought a new stake in Dorman Products during the first quarter worth approximately $216,000. Finally, PineBridge Investments L.P. boosted its stake in Dorman Products by 4.3% in the second quarter. PineBridge Investments L.P. now owns 3,819 shares of the company’s stock worth $218,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.
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.
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