Zacks Investment Research Lowers Dorman Products (NASDAQ:DORM) to Sell

Zacks Investment Research downgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

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. “

DORM has been the topic of several other research reports. Barrington Research restated a hold rating on shares of Dorman Products in a research note on Monday, July 29th. BidaskClub lowered shares of Dorman Products from a hold rating to a sell rating in a research note on Thursday. Finally, ValuEngine lowered shares of Dorman Products from a buy rating to a hold rating in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus price target of $56.50.

Shares of NASDAQ:DORM traded up $0.16 during trading hours on Thursday, hitting $69.17. The stock had a trading volume of 335,703 shares, compared to its average volume of 228,232. The firm has a fifty day moving average price of $83.63. Dorman Products has a 1-year low of $65.68 and a 1-year high of $97.38. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.48). Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The firm had revenue of $254.18 million during the quarter, compared to analyst estimates of $263.68 million. During the same quarter in the previous year, the business posted $1.09 EPS. Dorman Products’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Dorman Products will post 3.33 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Dorman Products by 1.3% during the first quarter. BlackRock Inc. now owns 4,097,147 shares of the auto parts company’s stock valued at $360,918,000 after acquiring an additional 51,122 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Dorman Products by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 940,179 shares of the auto parts company’s stock valued at $84,633,000 after acquiring an additional 11,446 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of Dorman Products by 2.7% during the second quarter. Conestoga Capital Advisors LLC now owns 815,548 shares of the auto parts company’s stock valued at $71,067,000 after acquiring an additional 21,660 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Dorman Products by 15.1% during the first quarter. PNC Financial Services Group Inc. now owns 507,263 shares of the auto parts company’s stock valued at $44,683,000 after acquiring an additional 66,451 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Dorman Products by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 337,180 shares of the auto parts company’s stock valued at $30,352,000 after acquiring an additional 9,458 shares during the period. Institutional investors own 81.03% 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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