Dorman Products (NASDAQ:DORM) Downgraded by Zacks Investment Research to “Sell”

Dorman Products (NASDAQ:DORM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Dorman Products, Inc. is a leading supplier of Dealer Exclusive replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman products are marketed under the Dorman, OE Solutions, HELP!, AutoGrade, First Stop, Conduct-Tite, TECHoice, Dorman Hybrid Drive Batteries and Dorman HD Solutions brand names. “

DORM has been the subject of a number of other research reports. CL King raised shares of Dorman Products from a “neutral” rating to a “buy” rating in a report on Thursday, March 19th. B. Riley lowered their price objective on Dorman Products from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Stephens lifted their target price on Dorman Products from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. ValuEngine downgraded Dorman Products from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, BidaskClub lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Dorman Products presently has a consensus rating of “Hold” and a consensus target price of $57.50.

Shares of DORM opened at $66.87 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.89. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. Dorman Products has a 1 year low of $44.49 and a 1 year high of $89.65. The business’s 50 day simple moving average is $68.77 and its 200-day simple moving average is $67.19.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Monday, April 27th. The auto parts company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Dorman Products had a net margin of 8.27% and a return on equity of 10.66%. The company had revenue of $257.70 million for the quarter, compared to analysts’ expectations of $236.09 million. During the same quarter in the previous year, the business posted $0.79 earnings per share. Dorman Products’s quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that Dorman Products will post 2.47 earnings per share for the current year.

In other news, SVP Jeffery Darby sold 1,376 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $76.94, for a total transaction of $105,869.44. Following the transaction, the senior vice president now directly owns 17,853 shares of the company’s stock, valued at $1,373,609.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Dorman Products by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 6,824 shares of the auto parts company’s stock worth $476,000 after buying an additional 1,231 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Dorman Products by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 242,163 shares of the auto parts company’s stock worth $18,337,000 after acquiring an additional 9,120 shares during the period. Barclays PLC grew its holdings in Dorman Products by 50.4% during the 4th quarter. Barclays PLC now owns 41,477 shares of the auto parts company’s stock worth $3,140,000 after acquiring an additional 13,902 shares in the last quarter. Eaton Vance Management increased its position in Dorman Products by 17.3% during the 4th quarter. Eaton Vance Management now owns 269,813 shares of the auto parts company’s stock valued at $20,429,000 after purchasing an additional 39,836 shares during the period. Finally, Atria Investments LLC bought a new stake in shares of Dorman Products in the 4th quarter valued at about $320,000. Institutional investors own 78.60% of the company’s stock.

About Dorman Products

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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