Dorman Products Inc. (NASDAQ:DORM)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group in a research report issued on Wednesday. They currently have a $60.00 price objective on the stock. Jefferies Group’s price objective suggests a potential downside of 4.52% from the stock’s current price.
DORM has been the topic of several other reports. Zacks Investment Research lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. B. Riley reissued a “neutral” rating and issued a $49.50 price objective on shares of Dorman Products in a report on Monday, August 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Dorman Products currently has an average rating of “Hold” and an average target price of $60.63.
Dorman Products (NASDAQ:DORM) opened at 62.84 on Wednesday. The stock has a market capitalization of $2.17 billion, a PE ratio of 22.37 and a beta of 0.76. Dorman Products has a 12-month low of $40.17 and a 12-month high of $67.30. The company has a 50-day moving average price of $63.75 and a 200-day moving average price of $58.14.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, July 26th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Dorman Products had a return on equity of 18.83% and a net margin of 11.82%. The company had revenue of $209.60 million for the quarter, compared to analyst estimates of $214.11 million. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts expect that Dorman Products will post $2.99 earnings per share for the current fiscal year.
In related news, SVP Jeffery Darby sold 490 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $64.00, for a total transaction of $31,360.00. Following the sale, the senior vice president now directly owns 11,990 shares of the company’s stock, valued at $767,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul R. Lederer sold 500 shares of the firm’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 sale, the director now directly owns 34,549 shares in the company, valued at $2,161,039.95. The disclosure for this sale can be found here. Corporate insiders own 11.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in Dorman Products during the second quarter valued at approximately $9,368,000. PNC Financial Services Group Inc. raised its stake in Dorman Products by 19.5% in the second quarter. PNC Financial Services Group Inc. now owns 925,038 shares of the company’s stock valued at $52,912,000 after buying an additional 151,004 shares during the period. Tributary Capital Management LLC bought a new stake in Dorman Products during the second quarter valued at approximately $7,810,000. Jennison Associates LLC raised its stake in Dorman Products by 40.4% in the second quarter. Jennison Associates LLC now owns 448,969 shares of the company’s stock valued at $25,681,000 after buying an additional 129,149 shares during the period. Finally, Henderson Group PLC raised its stake in Dorman Products by 57.6% in the second quarter. Henderson Group PLC now owns 338,072 shares of the company’s stock valued at $19,338,000 after buying an additional 123,617 shares during the period. 76.17% of the stock is currently owned by hedge funds and other institutional investors.
About Dorman Products
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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