Dorman Products (NASDAQ:DORM) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, February 4th.
Several other equities research analysts also recently weighed in on the company. BidaskClub downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. CL King downgraded Dorman Products from a “buy” rating to a “neutral” rating in a report on Monday, January 14th. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Finally, Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a report on Monday, October 29th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Dorman Products currently has an average rating of “Hold” and a consensus target price of $56.50.
NASDAQ DORM traded up $2.85 during trading on Monday, hitting $83.75. The company’s stock had a trading volume of 238,148 shares, compared to its average volume of 182,023. The company has a market cap of $2.77 billion, a PE ratio of 19.94, a P/E/G ratio of 1.51 and a beta of 0.61. Dorman Products has a fifty-two week low of $56.36 and a fifty-two week high of $97.38.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Monday, February 25th. The auto parts company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $260.34 million during the quarter, compared to the consensus estimate of $249.09 million. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. On average, analysts expect that Dorman Products will post 4.45 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in DORM. Lord Abbett & CO. LLC acquired a new stake in shares of Dorman Products during the fourth quarter worth about $41,269,000. Channing Capital Management LLC purchased a new position in Dorman Products during the fourth quarter valued at approximately $23,967,000. Jennison Associates LLC raised its position in Dorman Products by 1,838.8% during the third quarter. Jennison Associates LLC now owns 144,575 shares of the auto parts company’s stock valued at $11,121,000 after acquiring an additional 137,118 shares in the last quarter. BlackRock Inc. raised its position in Dorman Products by 3.5% during the third quarter. BlackRock Inc. now owns 4,052,392 shares of the auto parts company’s stock valued at $311,708,000 after acquiring an additional 136,304 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in Dorman Products by 14.9% during the third quarter. Conestoga Capital Advisors LLC now owns 743,623 shares of the auto parts company’s stock valued at $57,199,000 after acquiring an additional 96,310 shares in the last quarter. 79.62% of the stock is owned by hedge funds and other institutional investors.
About Dorman Products
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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