Dorman Products (DORM) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a sell rating to a hold rating in a research report released on Wednesday.

Several other research firms have also weighed in 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 issued a $16.00 target price on shares of Dorman Products in a report on Friday, October 5th. Finally, Zacks Investment Research raised Dorman Products from a sell rating to a hold rating in a report on Tuesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Dorman Products presently has a consensus rating of Hold and a consensus price target of $59.60.

Shares of DORM stock opened at $76.15 on Wednesday. Dorman Products has a 1-year low of $56.36 and a 1-year high of $83.42. The firm has a market cap of $2.35 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07.



Dorman Products (NASDAQ:DORM) last posted its earnings results on Thursday, October 25th. The auto parts company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The company had revenue of $247.95 million for the quarter, compared to analyst estimates of $234.46 million. Dorman Products had a return on equity of 20.15% and a net margin of 12.85%. Analysts expect that Dorman Products will post 4.19 EPS for the current fiscal year.

In other Dorman Products news, Director Paul R. Lederer sold 3,925 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $76.60, for a total value of $300,655.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mathias J. Barton sold 18,986 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $81.34, for a total value of $1,544,321.24. Following the completion of the sale, the chief executive officer now directly owns 111,011 shares in the company, valued at approximately $9,029,634.74. The disclosure for this sale can be found here. Insiders sold 24,278 shares of company stock worth $1,949,046 in the last three months. 11.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Dorman Products by 5.1% in the second quarter. Legal & General Group Plc now owns 64,197 shares of the auto parts company’s stock valued at $4,420,000 after acquiring an additional 3,103 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Dorman Products by 1.7% in the first quarter. Principal Financial Group Inc. now owns 228,991 shares of the auto parts company’s stock valued at $15,161,000 after acquiring an additional 3,731 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Dorman Products by 24.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 68,831 shares of the auto parts company’s stock valued at $4,702,000 after acquiring an additional 13,731 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Dorman Products by 7.4% in the second quarter. Pinebridge Investments L.P. now owns 25,763 shares of the auto parts company’s stock valued at $1,761,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Dorman Products in the second quarter valued at $300,000. Institutional investors and hedge funds own 78.13% 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.

Further Reading: Market Capitalization and Individual Investors

Analyst Recommendations for Dorman Products (NASDAQ:DORM)

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