BidaskClub Upgrades Dorman Products (NASDAQ:DORM) to Buy

Share on StockTwits

Dorman Products (NASDAQ:DORM) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday, BidAskClub reports.

A number of other brokerages have also recently issued reports on DORM. ValuEngine cut Dorman Products from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a research note on Monday, July 29th. Finally, Zacks Investment Research raised Dorman Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $97.00.

NASDAQ DORM opened at $83.24 on Tuesday. The stock’s 50-day simple moving average is $79.01 and its two-hundred day simple moving average is $82.07. Dorman Products has a twelve month low of $67.07 and a twelve month high of $97.38. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.98 and a beta of 0.55.

Dorman Products (NASDAQ:DORM) last released its quarterly 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 firm had revenue of $254.18 million for the quarter, compared to analysts’ expectations of $263.68 million. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that Dorman Products will post 3.33 earnings per share for the current year.

Several large investors have recently made changes to their positions in DORM. Dupont Capital Management Corp boosted its position in Dorman Products by 5.7% during the 2nd quarter. Dupont Capital Management Corp now owns 31,532 shares of the auto parts company’s stock valued at $2,748,000 after acquiring an additional 1,688 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of 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. Stephens Inc. AR lifted its holdings in shares of Dorman Products by 3.6% during the second quarter. Stephens Inc. AR now owns 63,763 shares of the auto parts company’s stock valued at $5,556,000 after purchasing an additional 2,211 shares during the last quarter. Strs Ohio lifted its holdings in shares of Dorman Products by 160.0% during the second quarter. Strs Ohio now owns 1,300 shares of the auto parts company’s stock valued at $113,000 after purchasing an additional 800 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Dorman Products by 2.3% during the second quarter. Vanguard Group Inc. now owns 2,871,470 shares of the auto parts company’s stock valued at $250,220,000 after purchasing an additional 64,595 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: How to calculate compound interest

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.