Dorman Products (DORM) Lifted to “Strong-Buy” at CL King

CL King upgraded shares of Dorman Products (NASDAQ:DORM) from a neutral rating to a strong-buy rating in a report issued on Wednesday morning, Marketbeat.com reports.

Several other equities research analysts have also recently issued reports on DORM. Zacks Investment Research raised Dorman Products from a sell rating to a hold rating in a research note on Monday, January 1st. Jefferies Group reissued a hold rating and set a $75.00 target price on shares of Dorman Products in a research note on Sunday, October 29th. BidaskClub cut Dorman Products from a sell rating to a strong sell rating in a research note on Thursday, December 14th. B. Riley reissued a neutral rating and set a $65.00 target price (down previously from $75.00) on shares of Dorman Products in a research note on Wednesday, November 1st. Finally, FBR & Co reissued a neutral rating and set a $65.00 target price (down previously from $75.00) on shares of Dorman Products in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $68.33.

Shares of Dorman Products (NASDAQ DORM) opened at $71.39 on Wednesday. Dorman Products has a fifty-two week low of $60.93 and a fifty-two week high of $88.50. The company has a market capitalization of $2,371.70, a P/E ratio of 21.25, a P/E/G ratio of 1.69 and a beta of 0.61.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Friday, October 27th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.07). The business had revenue of $224.60 million for the quarter, compared to analyst estimates of $233.56 million. Dorman Products had a return on equity of 18.32% and a net margin of 12.53%. Dorman Products’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. research analysts predict that Dorman Products will post 3.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DORM. YorkBridge Wealth Partners LLC boosted its position in shares of Dorman Products by 3.0% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock worth $115,000 after buying an additional 41 shares during the period. SG Americas Securities LLC purchased a new position in shares of Dorman Products during the second quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dorman Products by 8.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock worth $119,000 after buying an additional 118 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Dorman Products by 10.6% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock worth $120,000 after buying an additional 139 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of Dorman Products by 1,740.0% during the third quarter. Winslow Evans & Crocker Inc. now owns 1,840 shares of the auto parts company’s stock worth $132,000 after buying an additional 1,740 shares during the period. Institutional investors and hedge funds own 76.23% of the company’s stock.

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About Dorman Products

Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.

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