BidaskClub lowered shares of Dorman Products (NASDAQ:DORM) from a strong-buy rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.
Several other research analysts have also recently weighed in on DORM. Barrington Research reaffirmed a hold rating on shares of Dorman Products in a research report on Tuesday, February 26th. Zacks Investment Research cut Dorman Products from a hold rating to a sell rating in a research report on Friday, March 1st. Finally, ValuEngine raised Dorman Products from a hold rating to a buy rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $56.50.
Shares of DORM stock traded down $0.17 on Thursday, hitting $85.52. 20,802 shares of the stock were exchanged, compared to its average volume of 130,048. The stock has a market capitalization of $2.79 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.47 and a beta of 0.59. Dorman Products has a fifty-two week low of $65.68 and a fifty-two week high of $97.38.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, April 29th. The auto parts company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.17). The firm had revenue of $243.80 million for the quarter, compared to analyst estimates of $248.09 million. Dorman Products had a return on equity of 18.77% and a net margin of 12.76%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. As a group, sell-side analysts anticipate that Dorman Products will post 4.43 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of DORM. Lord Abbett & CO. LLC acquired a new position in shares of Dorman Products during the fourth quarter worth about $41,269,000. Channing Capital Management LLC acquired a new position in Dorman Products during the fourth quarter valued at approximately $23,967,000. Norges Bank acquired a new position in Dorman Products during the fourth quarter valued at approximately $18,465,000. Anchor Capital Advisors LLC boosted its position in Dorman Products by 42.7% during the first quarter. Anchor Capital Advisors LLC now owns 264,294 shares of the auto parts company’s stock valued at $23,282,000 after purchasing an additional 79,052 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Dorman Products by 1,640.6% during the first quarter. Kennedy Capital Management Inc. now owns 79,440 shares of the auto parts company’s stock valued at $6,998,000 after purchasing an additional 74,876 shares during the last quarter. 81.17% of the stock is owned by 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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