Dorman Products (NASDAQ:DORM) Cut to Sell at BidaskClub

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Dorman Products (NASDAQ:DORM) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

A number of other analysts also recently weighed in on DORM. Barrington Research reissued a “hold” rating on shares of Dorman Products in a research report on Monday, July 29th. ValuEngine raised shares of Dorman Products from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned 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 an average price target of $97.00.

Dorman Products stock opened at $71.26 on Thursday. The business has a 50 day moving average of $78.05 and a 200-day moving average of $80.17. Dorman Products has a 1 year low of $67.39 and a 1 year high of $97.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.71 and a quick ratio of 2.26. The company has a market capitalization of $2.35 billion, a P/E ratio of 22.17, a P/E/G ratio of 2.02 and a beta of 0.50.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Monday, October 28th. The auto parts company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.22). Dorman Products had a net margin of 9.96% and a return on equity of 14.23%. The firm had revenue of $253.80 million during the quarter, compared to analyst estimates of $268.65 million. During the same period in the prior year, the company earned $1.06 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Dorman Products will post 2.85 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. lifted its holdings in Dorman Products by 5.7% in the 2nd quarter. Zions Bancorporation N.A. now owns 2,858 shares of the auto parts company’s stock worth $249,000 after buying an additional 155 shares in the last quarter. First National Bank of Omaha raised its stake in shares of Dorman Products by 2.5% in the 2nd quarter. First National Bank of Omaha now owns 46,236 shares of the auto parts company’s stock valued at $4,029,000 after purchasing an additional 1,106 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Dorman Products by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,462 shares of the auto parts company’s stock valued at $999,000 after purchasing an additional 200 shares in the last quarter. Summit Creek Advisors LLC raised its stake in shares of Dorman Products by 8.7% in the 2nd quarter. Summit Creek Advisors LLC now owns 175,202 shares of the auto parts company’s stock valued at $15,267,000 after purchasing an additional 13,984 shares in the last quarter. Finally, BB&T Corp raised its stake in shares of Dorman Products by 370.5% in the 2nd quarter. BB&T Corp now owns 14,350 shares of the auto parts company’s stock valued at $1,250,000 after purchasing an additional 11,300 shares in the last quarter. 82.37% of the stock is owned by institutional investors and hedge funds.

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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