Dorman Products (NASDAQ:DORM) Stock Rating Upgraded by BidaskClub

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

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Dorman Products from a hold rating to a sell rating in a report on Thursday, August 1st. Barrington Research reissued a hold rating on shares of Dorman Products in a report on Monday, July 29th. Finally, ValuEngine cut Dorman Products from a buy rating to a hold rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of Hold and a consensus target price of $56.50.

Shares of NASDAQ DORM opened at $73.53 on Thursday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.69 and a beta of 0.57. Dorman Products has a 1-year low of $65.68 and a 1-year high of $97.38. The stock’s 50-day moving average is $79.68 and its 200 day moving average is $84.68.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data 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). The firm had revenue of $254.18 million for the quarter, compared to analysts’ expectations of $263.68 million. Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Dorman Products will post 3.33 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in DORM. Invesco Ltd. increased its stake in Dorman Products by 355.2% in the 2nd quarter. Invesco Ltd. now owns 343,569 shares of the auto parts company’s stock worth $29,938,000 after purchasing an additional 268,090 shares during the period. Norges Bank purchased a new position in Dorman Products in the 4th quarter worth approximately $18,465,000. Morgan Stanley increased its stake in Dorman Products by 262.6% in the 2nd quarter. Morgan Stanley now owns 165,496 shares of the auto parts company’s stock worth $14,422,000 after purchasing an additional 119,850 shares during the period. Nuveen Asset Management LLC purchased a new position in Dorman Products in the 2nd quarter worth approximately $10,195,000. Finally, Eaton Vance Management purchased a new position in Dorman Products in the 2nd quarter worth approximately $9,827,000. 81.25% of the stock is currently owned by institutional investors and hedge funds.

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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