Zacks: Brokerages Anticipate Dorman Products Inc. (DORM) Will Post Quarterly Sales of $235.45 Million

Wall Street analysts predict that Dorman Products Inc. (NASDAQ:DORM) will report sales of $235.45 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Dorman Products’ earnings, with the highest sales estimate coming in at $235.97 million and the lowest estimate coming in at $234.40 million. Dorman Products reported sales of $229.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Dorman Products will report full year sales of $235.45 million for the current year, with estimates ranging from $909.90 million to $911.47 million. For the next fiscal year, analysts expect that the firm will post sales of $1.01 billion per share, with estimates ranging from $1.00 billion to $1.02 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Dorman Products.

DORM has been the subject of several research reports. Jefferies Group restated a “hold” rating and set a $75.00 price objective on shares of Dorman Products in a research report on Sunday, October 29th. 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 report 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 report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Finally, BidaskClub downgraded shares of Dorman Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DORM. TIAA CREF Investment Management LLC raised its position in shares of Dorman Products by 1.8% in the second quarter. TIAA CREF Investment Management LLC now owns 73,917 shares of the auto parts company’s stock valued at $6,118,000 after buying an additional 1,324 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Dorman Products by 2.0% in the second quarter. UBS Asset Management Americas Inc. now owns 15,440 shares of the auto parts company’s stock valued at $1,278,000 after buying an additional 307 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Dorman Products by 1.0% in the second quarter. Vanguard Group Inc. now owns 2,833,910 shares of the auto parts company’s stock valued at $234,562,000 after buying an additional 27,088 shares in the last quarter. FMR LLC raised its position in shares of Dorman Products by 15.8% in the second quarter. FMR LLC now owns 411,000 shares of the auto parts company’s stock valued at $34,018,000 after buying an additional 56,197 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Dorman Products by 2.7% in the second quarter. California Public Employees Retirement System now owns 68,900 shares of the auto parts company’s stock valued at $5,703,000 after buying an additional 1,800 shares in the last quarter. Institutional investors own 72.63% of the company’s stock.

Shares of Dorman Products (DORM) traded down $1.51 during mid-day trading on Friday, reaching $70.23. 185,377 shares of the company’s stock traded hands, compared to its average volume of 189,147. The firm has a market capitalization of $2,419.25, a P/E ratio of 21.22, a PEG ratio of 1.72 and a beta of 0.85. Dorman Products has a 1 year low of $60.93 and a 1 year high of $88.50.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.com-unik.info/2018/02/10/zacks-brokerages-anticipate-dorman-products-inc-dorm-will-post-quarterly-sales-of-235-45-million.html.

Dorman Products Company Profile

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.

Get a free copy of the Zacks research report on Dorman Products (DORM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Dorman Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit