Dorman Products (NASDAQ:DORM) Upgraded at BidaskClub

BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.

A number of other analysts have also recently commented on the stock. ValuEngine cut shares of Dorman Products from a buy rating to a hold rating in a research report on Friday, May 1st. Zacks Investment Research cut shares of Dorman Products from a hold rating to a sell rating in a research report on Monday, June 29th. Finally, Stephens upped their price target on shares of Dorman Products from $57.00 to $60.00 and gave the company an equal weight rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Dorman Products presently has an average rating of Hold and an average target price of $57.50.

Shares of Dorman Products stock opened at $81.75 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Dorman Products has a twelve month low of $44.49 and a twelve month high of $84.22. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 2.76 and a beta of 0.79. The company’s fifty day moving average is $68.67 and its 200 day moving average is $66.36.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. Dorman Products had a net margin of 7.67% and a return on equity of 9.57%. The company had revenue of $233.20 million for the quarter, compared to analysts’ expectations of $201.07 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Dorman Products’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Dorman Products will post 2.47 earnings per share for the current fiscal year.

In other news, SVP Jeffery Darby sold 1,624 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $83.31, for a total transaction of $135,295.44. Following the transaction, the senior vice president now owns 16,229 shares of the company’s stock, valued at approximately $1,352,037.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Aigen Investment Management LP boosted its position in shares of Dorman Products by 1,166.7% during the 1st quarter. Aigen Investment Management LP now owns 494 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 455 shares in the last quarter. Strs Ohio bought a new position in shares of Dorman Products during the 1st quarter worth about $38,000. Howe & Rusling Inc. boosted its position in shares of Dorman Products by 104.5% during the 2nd quarter. Howe & Rusling Inc. now owns 585 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 299 shares in the last quarter. Private Capital Group LLC boosted its position in shares of Dorman Products by 103.0% during the 1st quarter. Private Capital Group LLC now owns 885 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 449 shares in the last quarter. Finally, Sowell Financial Services LLC boosted its position in shares of Dorman Products by 2,395.5% during the 1st quarter. Sowell Financial Services LLC now owns 1,098 shares of the auto parts company’s stock worth $61,000 after purchasing an additional 1,054 shares in the last quarter. 78.36% of the stock is currently owned by 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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