Dorman Products, Inc. (DORM) Stock Rating Reaffirmed by B. Riley
Dorman Products, Inc. (NASDAQ:DORM)‘s stock had its “neutral” rating reissued by equities researchers at B. Riley in a research note issued on Wednesday, November 1st. They currently have a $65.00 price target on the auto parts company’s stock, down from their prior price target of $75.00. B. Riley’s price objective would indicate a potential downside of 2.14% from the company’s previous close.
Several other brokerages have also recently issued reports on DORM. Zacks Investment Research cut shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub cut shares of Dorman Products from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. FBR & Co reissued a “neutral” rating and set a $65.00 price objective (down from $75.00) on shares of Dorman Products in a research note on Monday, October 30th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $75.00 price objective on shares of Dorman Products in a research note on Sunday, October 29th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Dorman Products has a consensus rating of “Hold” and a consensus target price of $68.33.
Dorman Products (NASDAQ DORM) traded down $1.09 during mid-day trading on Wednesday, reaching $66.42. 39,493 shares of the company’s stock traded hands, compared to its average volume of 168,994. The stock has a market cap of $2,296.83, a PE ratio of 20.58, a P/E/G ratio of 1.85 and a beta of 0.60. Dorman Products has a 12-month low of $61.07 and a 12-month high of $88.50.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Friday, October 27th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.07). Dorman Products had a net margin of 12.53% and a return on equity of 18.32%. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $233.56 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. analysts predict that Dorman Products will post 3.35 EPS for the current year.
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In related news, Director Paul R. Lederer sold 1,800 shares of Dorman Products stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.82, for a total transaction of $134,676.00. Following the transaction, the director now owns 16,961 shares in the company, valued at approximately $1,269,022.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.70% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Dorman Products by 161,230.6% during the 1st quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock valued at $287,394,000 after acquiring an additional 3,497,091 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Dorman Products by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,833,910 shares of the auto parts company’s stock worth $234,562,000 after buying an additional 27,088 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in Dorman Products by 7.9% in the 2nd quarter. Congress Asset Management Co. MA now owns 1,009,387 shares of the auto parts company’s stock worth $83,547,000 after buying an additional 73,884 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Dorman Products by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 848,572 shares of the auto parts company’s stock worth $70,236,000 after buying an additional 3,534 shares in the last quarter. Finally, State Street Corp lifted its holdings in Dorman Products by 5.3% in the 2nd quarter. State Street Corp now owns 684,554 shares of the auto parts company’s stock worth $56,661,000 after buying an additional 34,516 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.
About Dorman Products
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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