Dorman Products Inc. (NASDAQ:DORM) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $68.33.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Monday, June 18th. ValuEngine downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Finally, Barrington Research reiterated a “hold” rating on shares of Dorman Products in a report on Tuesday, May 1st.
In other Dorman Products news, Director John J. Gavin bought 1,536 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were acquired at an average cost of $65.23 per share, for a total transaction of $100,193.28. Following the acquisition, the director now directly owns 3,395 shares of the company’s stock, valued at $221,455.85. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 11.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in DORM. Schwab Charles Investment Management Inc. grew its holdings in Dorman Products by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 178,876 shares of the auto parts company’s stock worth $10,937,000 after acquiring an additional 5,664 shares during the last quarter. Comerica Bank grew its holdings in Dorman Products by 10.2% during the fourth quarter. Comerica Bank now owns 42,773 shares of the auto parts company’s stock valued at $3,197,000 after purchasing an additional 3,974 shares during the period. Teacher Retirement System of Texas bought a new stake in Dorman Products during the fourth quarter valued at about $654,000. California Public Employees Retirement System grew its holdings in Dorman Products by 2.6% during the fourth quarter. California Public Employees Retirement System now owns 73,595 shares of the auto parts company’s stock valued at $4,500,000 after purchasing an additional 1,857 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Dorman Products by 36.6% during the fourth quarter. Wells Fargo & Company MN now owns 69,348 shares of the auto parts company’s stock valued at $4,240,000 after purchasing an additional 18,593 shares during the period. Institutional investors and hedge funds own 75.35% of the company’s stock.
Shares of Dorman Products traded up $0.47, reaching $72.23, during mid-day trading on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 201,938 shares, compared to its average volume of 144,215. Dorman Products has a 12-month low of $56.36 and a 12-month high of $83.60. The company has a market cap of $2.39 billion, a PE ratio of 20.74, a P/E/G ratio of 1.23 and a beta of 0.87.
Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, May 1st. The auto parts company reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.07). Dorman Products had a net margin of 11.89% and a return on equity of 18.27%. The business had revenue of $227.30 million during the quarter, compared to analysts’ expectations of $233.97 million. During the same period in the prior year, the business posted $0.83 EPS. The business’s revenue was up 2.6% on a year-over-year basis. equities analysts forecast that Dorman Products will post 4.17 earnings per share for the current fiscal year.
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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