BidaskClub Lowers Dorman Products (DORM) to Sell

BidaskClub cut shares of Dorman Products (NASDAQ:DORM) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other brokerages have also commented on DORM. ValuEngine raised Dorman Products from a sell rating to a hold rating in a report on Tuesday, July 31st. Barrington Research reissued a hold rating and set a $16.00 price target on shares of Dorman Products in a report on Friday. Finally, Zacks Investment Research lowered Dorman Products from a hold rating to a sell rating in a report on Monday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the stock. Dorman Products presently has an average rating of Hold and an average price target of $59.60.

DORM stock opened at $71.64 on Friday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.31 and a beta of 1.07. Dorman Products has a 1 year low of $56.36 and a 1 year high of $83.42.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Tuesday, July 31st. The auto parts company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. The company had revenue of $238.15 million for the quarter, compared to analyst estimates of $244.87 million. Dorman Products had a return on equity of 19.13% and a net margin of 12.42%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. On average, equities research analysts anticipate that Dorman Products will post 4.19 EPS for the current fiscal year.

In other news, CEO Mathias J. Barton sold 18,986 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $81.34, for a total transaction of $1,544,321.24. Following the transaction, the chief executive officer now directly owns 111,011 shares of the company’s stock, valued at $9,029,634.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffery Darby sold 1,367 shares of Dorman Products stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $76.13, for a total value of $104,069.71. Following the transaction, the senior vice president now directly owns 12,639 shares in the company, valued at $962,207.07. The disclosure for this sale can be found here. Insiders have sold 24,278 shares of company stock worth $1,949,046 over the last three months. Corporate insiders own 11.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Dorman Products by 1.7% during the first quarter. Principal Financial Group Inc. now owns 228,991 shares of the auto parts company’s stock worth $15,161,000 after acquiring an additional 3,731 shares during the period. Pinebridge Investments L.P. grew its holdings in Dorman Products by 7.4% during the second quarter. Pinebridge Investments L.P. now owns 25,763 shares of the auto parts company’s stock worth $1,761,000 after acquiring an additional 1,779 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Dorman Products during the second quarter worth about $300,000. Dupont Capital Management Corp grew its holdings in Dorman Products by 12.6% during the second quarter. Dupont Capital Management Corp now owns 18,744 shares of the auto parts company’s stock worth $1,280,000 after acquiring an additional 2,092 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Dorman Products by 10.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 210,248 shares of the auto parts company’s stock worth $14,363,000 after acquiring an additional 19,125 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Dorman Products (NASDAQ:DORM)

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