Dorman Products Inc. (NASDAQ:DORM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “R&B, Inc. is a leading supplier of OE Dealer Exclusive automotive replacement parts, automotive hardware, brake products, and household hardware to the Automotive Aftermarket and Mass Merchandise markets. Dorman automotive parts and hardware are marketed under the OE Solutions, HELP, AutoGrade, First Stop, Conduct-Tite, Pik-A-Nut and Scan-Tech brand names. “
A number of other equities research analysts also recently weighed in on the company. Jefferies Group boosted their target price on Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. B. Riley reaffirmed a “neutral” rating and set a $49.50 price objective on shares of Dorman Products in a research note on Monday, August 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $60.63.
Shares of Dorman Products (NASDAQ:DORM) opened at 64.90 on Tuesday. The company has a 50-day moving average price of $63.34 and a 200 day moving average price of $57.16. Dorman Products has a 52 week low of $40.17 and a 52 week high of $67.30. The stock has a market capitalization of $2.24 billion, a P/E ratio of 23.10 and a beta of 0.69.
Dorman Products (NASDAQ:DORM) last released its earnings results on Tuesday, July 26th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company earned $209.60 million during the quarter, compared to the consensus estimate of $214.11 million. Dorman Products had a return on equity of 18.83% and a net margin of 11.82%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. Analysts forecast that Dorman Products will post $2.99 earnings per share for the current fiscal year.
In other Dorman Products news, Director Paul R. Lederer sold 500 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $62.55, for a total value of $31,275.00. Following the completion of the transaction, the director now directly owns 34,549 shares of the company’s stock, valued at $2,161,039.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffery Darby sold 490 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $64.00, for a total value of $31,360.00. Following the completion of the transaction, the senior vice president now directly owns 11,990 shares of the company’s stock, valued at $767,360. The disclosure for this sale can be found here. 11.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG boosted its position in Dorman Products by 13.5% in the first quarter. UBS Group AG now owns 52,887 shares of the company’s stock worth $2,878,000 after buying an additional 6,283 shares during the last quarter. State Street Corp boosted its position in Dorman Products by 2.0% in the first quarter. State Street Corp now owns 525,985 shares of the company’s stock worth $28,625,000 after buying an additional 10,422 shares during the last quarter. Huntington Asset Advisors Inc. acquired a new position in Dorman Products during the first quarter worth about $775,000. Royce & Associates LP boosted its position in Dorman Products by 3.7% in the first quarter. Royce & Associates LP now owns 1,427,672 shares of the company’s stock worth $77,694,000 after buying an additional 50,698 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Dorman Products by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 741,026 shares of the company’s stock worth $40,327,000 after buying an additional 14,637 shares during the last quarter. 76.46% of the stock is owned by hedge funds and other institutional investors.
Dorman Products Company Profile
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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