Dorman Products, Inc. (DORM) Cut to “Sell” at BidaskClub

Dorman Products, Inc. (NASDAQ:DORM) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other analysts have also commented on DORM. B. Riley reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Dorman Products in a research report on Wednesday, February 22nd. FBR & Co lowered Dorman Products from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $68.00 to $80.00 in a research report on Thursday, February 23rd. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Friday, February 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $85.00 target price (up from $78.00) on shares of Dorman Products in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Dorman Products has an average rating of “Hold” and a consensus price target of $82.88.

Dorman Products (DORM) traded down 1.04% on Friday, hitting $79.04. The stock had a trading volume of 304,107 shares. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 24.62 and a beta of 0.63. Dorman Products has a 52 week low of $51.87 and a 52 week high of $88.50. The company has a 50-day moving average price of $82.59 and a 200-day moving average price of $77.10.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, May 2nd. The auto parts company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Dorman Products had a return on equity of 18.79% and a net margin of 12.66%. The business had revenue of $221.60 million during the quarter, compared to analyst estimates of $224.16 million. During the same period in the previous year, the company posted $0.71 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Dorman Products will post $3.49 earnings per share for the current fiscal year.

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In other Dorman Products news, Director Paul R. Lederer sold 7,593 shares of Dorman Products stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $82.70, for a total transaction of $627,941.10. Following the completion of the transaction, the director now owns 15,873 shares in the company, valued at approximately $1,312,697.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. FTB Advisors Inc. increased its position in shares of Dorman Products by 7.7% in the first quarter. FTB Advisors Inc. now owns 1,260 shares of the auto parts company’s stock worth $104,000 after buying an additional 90 shares during the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Dorman Products by 7.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,349 shares of the auto parts company’s stock worth $116,000 after buying an additional 98 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Dorman Products by 10.3% in the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock worth $159,000 after buying an additional 180 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Dorman Products by 91.8% in the first quarter. LS Investment Advisors LLC now owns 2,235 shares of the auto parts company’s stock worth $184,000 after buying an additional 1,070 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Dorman Products during the first quarter worth $188,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.

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