BidaskClub Upgrades Dorman Products (DORM) to Sell

BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a strong sell rating to a sell rating in a research note released on Friday morning.

Several other equities analysts have also recently issued reports on DORM. Zacks Investment Research upgraded Dorman Products from a sell rating to a hold rating in a research report on Monday, January 1st. CL King upgraded Dorman Products from a neutral rating to a strong-buy rating in a research report on Wednesday, January 3rd. Jefferies Group reiterated a hold rating and set a $75.00 price target on shares of Dorman Products in a research report on Sunday, October 29th. B. Riley reiterated a neutral rating and set a $65.00 price target (down from $75.00) on shares of Dorman Products in a research report on Wednesday, November 1st. Finally, FBR & Co reiterated a neutral rating and set a $65.00 price target (down from $75.00) on shares of Dorman Products in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $68.33.

Shares of Dorman Products (NASDAQ:DORM) traded down $1.09 during midday trading on Friday, hitting $70.30. The company had a trading volume of 262,900 shares, compared to its average volume of 415,640. The company has a market cap of $2,370.00, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. Dorman Products has a 1-year low of $60.93 and a 1-year high of $88.50.

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 return on equity of 18.32% and a net margin of 12.53%. The company had revenue of $224.60 million during the quarter, compared to the consensus estimate of $233.56 million. During the same period last year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts expect that Dorman Products will post 3.34 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its position in shares of Dorman Products by 3.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock worth $115,000 after buying an additional 41 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Dorman Products in the second quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dorman Products by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock worth $119,000 after buying an additional 118 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Dorman Products by 10.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock worth $120,000 after buying an additional 139 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of Dorman Products by 1,740.0% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,840 shares of the auto parts company’s stock worth $132,000 after buying an additional 1,740 shares during the period. 76.23% of the stock is owned by institutional investors and hedge funds.

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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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