Dorman Products (NASDAQ:DORM) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Dorman Products (NASDAQ:DORM) from a sell rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

DORM has been the topic of several other research reports. Barrington Research reaffirmed a hold rating on shares of Dorman Products in a research note on Monday, July 29th. ValuEngine cut Dorman Products from a buy rating to a hold rating in a report on Monday, July 8th. Finally, Zacks Investment Research cut Dorman Products from a hold rating to a sell rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Dorman Products currently has an average rating of Hold and an average price target of $56.50.

Dorman Products stock opened at $81.53 on Friday. The business’s fifty day moving average is $73.92 and its two-hundred day moving average is $82.86. The firm has a market cap of $2.67 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.79 and a beta of 0.57. Dorman Products has a 52 week low of $65.68 and a 52 week high of $97.38.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.48). Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The business had revenue of $254.18 million during the quarter, compared to analyst estimates of $263.68 million. During the same quarter last year, the business posted $1.09 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts forecast that Dorman Products will post 3.33 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridge City Capital LLC increased its holdings in shares of Dorman Products by 0.5% during the second quarter. Bridge City Capital LLC now owns 24,950 shares of the auto parts company’s stock valued at $2,174,000 after acquiring an additional 123 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in Dorman Products by 5.7% during the second quarter. Zions Bancorporation N.A. now owns 2,858 shares of the auto parts company’s stock valued at $249,000 after purchasing an additional 155 shares during the last quarter. LPL Financial LLC boosted its holdings in Dorman Products by 5.0% in the 2nd quarter. LPL Financial LLC now owns 3,531 shares of the auto parts company’s stock worth $309,000 after buying an additional 169 shares during the period. Arizona State Retirement System boosted its holdings in shares of Dorman Products by 0.4% in the second quarter. Arizona State Retirement System now owns 44,961 shares of the auto parts company’s stock worth $3,918,000 after acquiring an additional 170 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Dorman Products by 2.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,690 shares of the auto parts company’s stock worth $757,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

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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