Dorman Products (NASDAQ:DORM) Cut to Hold at ValuEngine

ValuEngine cut shares of Dorman Products (NASDAQ:DORM) from a buy rating to a hold rating in a research note issued to investors on Monday, ValuEngine reports.

Several other research firms have also recently commented on DORM. Zacks Investment Research cut shares of German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. BidaskClub raised shares of DENTSPLY SIRONA from a buy rating to a strong-buy rating in a research note on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $56.50.

Dorman Products stock traded down $1.54 during trading hours on Monday, hitting $79.18. 134,805 shares of the company traded hands, compared to its average volume of 199,178. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.53 and a beta of 0.62. The firm’s 50-day moving average price is $84.82. Dorman Products has a 1-year low of $65.68 and a 1-year high of $97.38.

Dorman Products (NASDAQ:DORM) last released its earnings results on Monday, April 29th. The auto parts company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.17). The company had revenue of $243.80 million for the quarter, compared to analyst estimates of $248.09 million. Dorman Products had a net margin of 12.76% and a return on equity of 18.77%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. As a group, analysts anticipate that Dorman Products will post 4.43 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in DORM. Captrust Financial Advisors grew its stake in shares of Dorman Products by 90.7% in the 4th quarter. Captrust Financial Advisors now owns 412 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 196 shares during the last quarter. Private Capital Group LLC grew its stake in shares of Dorman Products by 22.3% in the 1st quarter. Private Capital Group LLC now owns 725 shares of the auto parts company’s stock worth $64,000 after purchasing an additional 132 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Dorman Products in the 1st quarter worth approximately $86,000. Coldstream Capital Management Inc. acquired a new position in shares of Dorman Products in the 4th quarter worth approximately $221,000. Finally, Ibex Investors LLC acquired a new position in shares of Dorman Products in the 4th quarter worth approximately $225,000. 81.05% of the stock is currently owned by 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.

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