Dorman Products (NASDAQ:DORM) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Dorman Products (NASDAQ:DORM) from a sell rating to a hold rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “Dorman Products, Inc. is a leading supplier of Dealer Exclusive replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman products are marketed under the Dorman, OE Solutions, HELP!, AutoGrade, First Stop, Conduct-Tite, TECHoice, Dorman Hybrid Drive Batteries and Dorman HD Solutions brand names. “

DORM has been the topic of several other research reports. Stephens raised their price target on Dorman Products from $57.00 to $60.00 and gave the company an equal weight rating in a report on Tuesday, April 28th. Barrington Research began coverage on Dorman Products in a research report on Monday, February 24th. They set a hold rating on the stock. B. Riley reduced their price objective on Dorman Products from $60.00 to $55.00 and set a neutral rating on the stock in a research report on Tuesday, March 17th. BidaskClub upgraded Dorman Products from a hold rating to a buy rating in a research report on Friday, May 15th. Finally, ValuEngine lowered Dorman Products from a buy rating to a hold rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $57.50.

NASDAQ:DORM opened at $66.74 on Monday. The business’s 50-day moving average price is $62.15 and its two-hundred day moving average price is $67.70. Dorman Products has a twelve month low of $44.49 and a twelve month high of $89.65. The stock has a market cap of $2.23 billion, a P/E ratio of 26.17, a PEG ratio of 2.19 and a beta of 0.76. The company has a quick ratio of 1.89, a current ratio of 2.72 and a debt-to-equity ratio of 0.04.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Monday, April 27th. The auto parts company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Dorman Products had a return on equity of 10.66% and a net margin of 8.27%. The firm had revenue of $257.70 million for the quarter, compared to analysts’ expectations of $236.09 million. During the same quarter last year, the firm posted $0.79 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Dorman Products will post 2.62 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its position in Dorman Products by 4.7% during the 4th quarter. Amalgamated Bank now owns 5,263 shares of the auto parts company’s stock worth $399,000 after acquiring an additional 235 shares during the last quarter. Anchor Capital Advisors LLC grew its position in Dorman Products by 86.7% during the 4th quarter. Anchor Capital Advisors LLC now owns 709,584 shares of the auto parts company’s stock worth $53,730,000 after acquiring an additional 329,436 shares during the last quarter. Reinhart Partners Inc. grew its position in Dorman Products by 96.5% during the 4th quarter. Reinhart Partners Inc. now owns 51,072 shares of the auto parts company’s stock worth $3,867,000 after acquiring an additional 25,087 shares during the last quarter. Barclays PLC grew its position in shares of Dorman Products by 50.4% in the 4th quarter. Barclays PLC now owns 41,477 shares of the auto parts company’s stock worth $3,140,000 after buying an additional 13,902 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in shares of Dorman Products by 18.6% in the 1st quarter. Boston Trust Walden Corp now owns 393,633 shares of the auto parts company’s stock worth $21,756,000 after buying an additional 61,598 shares during the last quarter. Institutional investors and hedge funds own 78.60% of the company’s stock.

About Dorman Products

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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