Brokerages forecast that Dorman Products Inc. (NASDAQ:DORM) will post sales of $235.45 million for the current quarter, Zacks reports. Three analysts have provided estimates for Dorman Products’ earnings, with the highest sales estimate coming in at $235.97 million and the lowest estimate coming in at $234.40 million. Dorman Products reported sales of $229.10 million in the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Dorman Products will report full year sales of $235.45 million for the current year, with estimates ranging from $909.90 million to $911.47 million. For the next financial year, analysts expect that the company will post sales of $1.01 billion per share, with estimates ranging from $1.00 billion to $1.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Dorman Products.
DORM has been the subject of several recent analyst reports. Jefferies Group restated a “hold” rating and set a $75.00 target price on shares of Dorman Products in a research note on Sunday, October 29th. FBR & Co restated a “neutral” rating and set a $65.00 target price (down from $75.00) on shares of Dorman Products in a research note on Monday, October 30th. B. Riley restated a “neutral” rating and set a $65.00 target price (down from $75.00) on shares of Dorman Products in a research note on Wednesday, November 1st. Zacks Investment Research downgraded Dorman Products from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Finally, BidaskClub downgraded Dorman Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.33.
Shares of Dorman Products (NASDAQ DORM) traded up $1.70 during trading on Friday, hitting $73.06. The stock had a trading volume of 270,787 shares, compared to its average volume of 238,470. The firm has a market capitalization of $2,368.33, a P/E ratio of 22.07, a PEG ratio of 1.69 and a beta of 0.85. Dorman Products has a 12 month low of $60.93 and a 12 month high of $88.50.
A number of large investors have recently bought and sold shares of DORM. Winslow Evans & Crocker Inc. grew its stake in Dorman Products by 1,740.0% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,840 shares of the auto parts company’s stock worth $132,000 after purchasing an additional 1,740 shares in the last quarter. Zions Bancorporation acquired a new position in Dorman Products in the third quarter worth about $193,000. Ameritas Investment Partners Inc. grew its stake in Dorman Products by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,405 shares of the auto parts company’s stock worth $199,000 after purchasing an additional 115 shares in the last quarter. Shaker Investments LLC OH acquired a new position in Dorman Products in the third quarter worth about $201,000. Finally, Visionary Asset Management Inc. acquired a new position in Dorman Products in the third quarter worth about $204,000. Institutional investors and hedge funds own 72.37% of the company’s stock.
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About Dorman Products
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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