Zacks Investment Research upgraded shares of Dorman Products (NASDAQ:DORM) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Dorman Products, Inc. is a leading supplier of Dealer Exclusive replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman products are marketed under the Dorman, OE Solutions, HELP!, AutoGrade, First Stop, Conduct-Tite, TECHoice, Dorman Hybrid Drive Batteries and Dorman HD Solutions brand names. “
Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Dorman Products from a hold rating to a buy rating in a research report on Tuesday, June 19th. Barrington Research reissued a hold rating on shares of Dorman Products in a research report on Tuesday, May 1st. Finally, ValuEngine cut shares of Dorman Products from a hold rating to a sell rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Dorman Products has an average rating of Hold and a consensus price target of $70.50.
Dorman Products opened at $72.32 on Tuesday, MarketBeat Ratings reports. The stock has a market cap of $2.34 billion, a PE ratio of 21.46, a P/E/G ratio of 1.20 and a beta of 0.89. Dorman Products has a 1 year low of $56.36 and a 1 year high of $83.44.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Tuesday, May 1st. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.07). Dorman Products had a return on equity of 18.27% and a net margin of 11.89%. The company had revenue of $227.30 million for the quarter, compared to the consensus estimate of $233.97 million. During the same period last year, the company earned $0.83 EPS. Dorman Products’s revenue for the quarter was up 2.6% compared to the same quarter last year. research analysts forecast that Dorman Products will post 4.17 earnings per share for the current fiscal year.
In other news, Director John J. Gavin bought 1,536 shares of the company’s stock in a transaction on Monday, May 7th. The shares were purchased at an average price of $65.23 per share, with a total value of $100,193.28. Following the transaction, the director now directly owns 3,395 shares in the company, valued at $221,455.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 11.90% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Zions Bancorporation purchased a new stake in shares of Dorman Products during the 1st quarter worth approximately $188,000. Atria Investments LLC purchased a new stake in shares of Dorman Products during the 1st quarter worth approximately $201,000. ARGI Investment Services LLC purchased a new stake in shares of Dorman Products during the 1st quarter worth approximately $209,000. Thomson Horstmann & Bryant Inc. purchased a new stake in shares of Dorman Products during the 1st quarter worth approximately $218,000. Finally, Virtu Financial LLC purchased a new stake in shares of Dorman Products during the 4th quarter worth approximately $225,000. Institutional investors own 75.36% of the company’s stock.
Dorman Products Company Profile
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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