Dorman Products (DORM) Upgraded to Hold by Zacks Investment Research

Dorman Products (NASDAQ:DORM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

A number of other analysts have also weighed in on DORM. CL King lowered shares of Dorman Products from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. BidaskClub raised shares of Dorman Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday. ValuEngine lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a research note on Tuesday, February 26th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $56.50.

Dorman Products stock traded down $0.15 during midday trading on Monday, reaching $93.03. 140,900 shares of the stock traded hands, compared to its average volume of 229,156. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.60 and a beta of 0.55. Dorman Products has a fifty-two week low of $56.36 and a fifty-two week high of $97.38.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, February 25th. The auto parts company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $260.34 million during the quarter, compared to analyst estimates of $249.09 million. Dorman Products had a net margin of 13.72% and a return on equity of 20.20%. Dorman Products’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Research analysts anticipate that Dorman Products will post 4.45 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Dorman Products by 3.5% in the 3rd quarter. BlackRock Inc. now owns 4,052,392 shares of the auto parts company’s stock worth $311,708,000 after acquiring an additional 136,304 shares during the period. Vanguard Group Inc lifted its stake in shares of Dorman Products by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 2,732,884 shares of the auto parts company’s stock worth $210,213,000 after acquiring an additional 38,825 shares during the period. Vanguard Group Inc. lifted its stake in shares of Dorman Products by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,732,884 shares of the auto parts company’s stock worth $210,213,000 after acquiring an additional 38,825 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Dorman Products by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 940,179 shares of the auto parts company’s stock worth $84,633,000 after acquiring an additional 11,446 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Dorman Products by 5.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 787,743 shares of the auto parts company’s stock worth $70,913,000 after acquiring an additional 44,120 shares during the period. 81.05% of the stock is owned by institutional investors.

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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