Dorman Products Inc. (DORM) Given Consensus Recommendation of “Hold” by Brokerages

Dorman Products Inc. (NASDAQ:DORM) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $68.33.

Several equities analysts recently commented on the company. BidaskClub upgraded Dorman Products from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. Barrington Research reissued a “hold” rating on shares of Dorman Products in a research note on Tuesday, May 1st. ValuEngine cut Dorman Products from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, Zacks Investment Research cut Dorman Products from a “hold” rating to a “sell” rating in a research note on Tuesday, June 5th.

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in Dorman Products by 29.1% during the first quarter. Victory Capital Management Inc. now owns 3,749 shares of the auto parts company’s stock worth $248,000 after acquiring an additional 844 shares in the last quarter. Prudential Financial Inc. raised its holdings in Dorman Products by 1.7% during the first quarter. Prudential Financial Inc. now owns 50,724 shares of the auto parts company’s stock worth $3,358,000 after acquiring an additional 850 shares in the last quarter. Swiss National Bank raised its holdings in Dorman Products by 1.9% during the first quarter. Swiss National Bank now owns 53,300 shares of the auto parts company’s stock worth $3,529,000 after acquiring an additional 1,000 shares in the last quarter. Profund Advisors LLC raised its holdings in Dorman Products by 22.8% during the first quarter. Profund Advisors LLC now owns 5,431 shares of the auto parts company’s stock worth $360,000 after acquiring an additional 1,008 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Dorman Products by 1.5% during the first quarter. Rhumbline Advisers now owns 68,426 shares of the auto parts company’s stock worth $4,530,000 after acquiring an additional 1,032 shares in the last quarter. 75.72% of the stock is owned by institutional investors and hedge funds.

Shares of Dorman Products opened at $74.75 on Thursday, MarketBeat Ratings reports. Dorman Products has a fifty-two week low of $56.36 and a fifty-two week high of $78.01. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.29 and a beta of 0.93.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $238.15 million for the quarter, compared to analyst estimates of $244.87 million. Dorman Products had a return on equity of 19.13% and a net margin of 12.42%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. sell-side analysts anticipate that Dorman Products will post 4.19 earnings per share for the current year.

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.

Read More: Are Wall Street analysts’ stock ratings worth following?

Analyst Recommendations for Dorman Products (NASDAQ:DORM)

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