Dorman Products (DORM) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a research note published on Friday morning.

DORM has been the topic of a number of other research reports. Jefferies Group reaffirmed a hold rating and issued a $75.00 price objective on shares of Dorman Products in a research note on Sunday, October 29th. Zacks Investment Research downgraded Dorman Products from a hold rating to a sell rating in a research note on Friday, November 3rd. B. Riley reaffirmed a neutral rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a research note on Wednesday, November 1st. FBR & Co reaffirmed a neutral rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a research note on Monday, October 30th. Finally, CL King raised Dorman Products from a neutral rating to a strong-buy rating in a research note on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $68.33.

Shares of Dorman Products (NASDAQ:DORM) opened at $76.36 on Friday. Dorman Products has a 12 month low of $60.93 and a 12 month high of $88.50. The stock has a market capitalization of $2,575.04, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DORM. UBS Asset Management Americas Inc. increased its position in shares of Dorman Products by 2.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,440 shares of the auto parts company’s stock valued at $1,278,000 after purchasing an additional 307 shares during the last quarter. FMR LLC increased its position in shares of Dorman Products by 15.8% during the 2nd quarter. FMR LLC now owns 411,000 shares of the auto parts company’s stock valued at $34,018,000 after purchasing an additional 56,197 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Dorman Products by 13.7% during the 2nd quarter. Voya Investment Management LLC now owns 12,292 shares of the auto parts company’s stock valued at $1,017,000 after purchasing an additional 1,477 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Dorman Products by 61.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 74,990 shares of the auto parts company’s stock valued at $6,206,000 after purchasing an additional 28,637 shares during the last quarter. Finally, State Street Corp increased its position in shares of Dorman Products by 5.3% during the 2nd quarter. State Street Corp now owns 684,554 shares of the auto parts company’s stock valued at $56,661,000 after purchasing an additional 34,516 shares during the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & international copyright and trademark law. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/02/20/dorman-products-dorm-upgraded-to-buy-at-bidaskclub.html.

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.

Receive News & Ratings for Dorman Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply