ValuEngine upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a report published on Tuesday, ValuEngine reports.
DORM has been the topic of several other reports. Barrington Research reaffirmed a hold rating on shares of Dorman Products in a research report on Monday, July 29th. BidaskClub raised Dorman Products from a sell rating to a hold rating in a research report on Saturday, September 7th. Finally, Zacks Investment Research downgraded Dorman Products from a hold rating to a sell rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy 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 $1.30 during midday trading on Tuesday, hitting $82.44. The company’s stock had a trading volume of 176,517 shares, compared to its average volume of 153,972. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.96 and a beta of 0.57. The stock’s 50 day simple moving average is $73.84 and its 200 day simple moving average is $82.78. 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 issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.48). The business had revenue of $254.18 million during the quarter, compared to analyst estimates of $263.68 million. Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. Analysts forecast that Dorman Products will post 3.33 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dupont Capital Management Corp lifted its stake in shares of Dorman Products by 5.7% in the second quarter. Dupont Capital Management Corp now owns 31,532 shares of the auto parts company’s stock valued at $2,748,000 after buying an additional 1,688 shares during the period. Raymond James & Associates lifted its stake in shares of Dorman Products by 19.0% in the first quarter. Raymond James & Associates now owns 30,427 shares of the auto parts company’s stock valued at $2,680,000 after buying an additional 4,851 shares during the period. Comerica Bank lifted its stake in shares of Dorman Products by 3.6% in the first quarter. Comerica Bank now owns 49,458 shares of the auto parts company’s stock valued at $4,562,000 after buying an additional 1,730 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Dorman Products by 5.7% in the second quarter. Zions Bancorporation N.A. now owns 2,858 shares of the auto parts company’s stock valued at $249,000 after buying an additional 155 shares during the period. Finally, Shaker Investments LLC OH lifted its stake in shares of Dorman Products by 135.7% in the first quarter. Shaker Investments LLC OH now owns 6,600 shares of the auto parts company’s stock valued at $581,000 after buying an additional 3,800 shares during the period. Institutional investors and hedge funds own 82.39% 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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