Dorman Products (NASDAQ:DORM) was upgraded by equities research analysts at CL King from a “neutral” rating to a “strong-buy” rating in a report released on Wednesday, January 3rd, Marketbeat.com reports.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. BidaskClub cut shares of Dorman Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. FBR & Co restated 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. B. Riley restated a “neutral” rating and set a $65.00 price objective (down from $75.00) on shares of Dorman Products in a research note on Wednesday, November 1st. Finally, Jefferies Group restated a “hold” rating and set a $75.00 price objective on shares of Dorman Products in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $68.33.
Shares of Dorman Products (NASDAQ DORM) traded up $1.31 on Wednesday, hitting $70.98. 136,200 shares of the stock traded hands, compared to its average volume of 340,600. Dorman Products has a 52 week low of $60.93 and a 52 week high of $88.50. The firm has a market capitalization of $2,330.00, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $224.60 million for the quarter, compared to analyst estimates of $233.56 million. During the same period last year, the firm posted $0.77 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. equities analysts forecast that Dorman Products will post 3.34 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in Dorman Products by 9.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 173,212 shares of the auto parts company’s stock worth $12,406,000 after acquiring an additional 14,697 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Dorman Products by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 549,328 shares of the auto parts company’s stock worth $45,468,000 after buying an additional 6,474 shares during the period. OxFORD Asset Management LLP raised its holdings in Dorman Products by 31.4% during the 2nd quarter. OxFORD Asset Management LLP now owns 31,012 shares of the auto parts company’s stock worth $2,567,000 after buying an additional 7,409 shares during the period. American Century Companies Inc. acquired a new stake in Dorman Products during the 2nd quarter worth about $4,733,000. Finally, California Public Employees Retirement System raised its holdings in Dorman Products by 2.7% during the 2nd quarter. California Public Employees Retirement System now owns 68,900 shares of the auto parts company’s stock worth $5,703,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 76.23% of the company’s stock.
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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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