Dorman Products Inc. (NASDAQ:DORM) Given Consensus Rating of “Hold” by Analysts

Shares of Dorman Products Inc. (NASDAQ:DORM) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $51.88.

In other Dorman Products news, CFO Matthew S. Kohnke sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $49.02, for a total transaction of $98,040.00. Following the transaction, the chief financial officer now directly owns 7,996 shares of the company’s stock, valued at approximately $391,963.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edgar W. Levin sold 1,000 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $48.07, for a total transaction of $48,070.00. Following the transaction, the director now directly owns 64,411 shares in the company, valued at $3,096,236.77. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Dorman Products stock. Jennison Associates increased its position in shares of Dorman Products Inc. (NASDAQ:DORM) by 2,091.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,008 shares of the company’s stock after buying an additional 297,770 shares during the period. Jennison Associates owned about 0.88% of Dorman Products worth $15,878,000 as of its most recent filing with the SEC.

Shares of Dorman Products (NASDAQ:DORM) traded down 2.00% during mid-day trading on Monday, hitting $46.52. 87,933 shares of the stock were exchanged. The stock has a market capitalization of $1.65 billion and a price-to-earnings ratio of 18.55. Dorman Products has a 52 week low of $43.65 and a 52 week high of $53.75. The stock’s 50-day moving average is $47.37 and its 200-day moving average is $49.38.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $210.80 million. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. Analysts forecast that Dorman Products will post $2.62 earnings per share for the current fiscal year.

DORM has been the subject of a number of research analyst reports. Barrington Research initiated coverage on shares of Dorman Products in a report on Wednesday, October 14th. They set an “outperform” rating for the company. BB&T Corp. downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Thursday, October 15th. Jefferies Group initiated coverage on shares of Dorman Products in a report on Tuesday, October 20th. They set a “hold” rating and a $56.00 price objective for the company. B. Riley restated a “sell” rating and set a $32.50 price objective on shares of Dorman Products in a report on Wednesday, October 28th. Finally, FBR & Co. decreased their price objective on shares of Dorman Products from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, October 29th.

12 Month Chart for NASDAQ:DORM

Dorman Products, Inc. (NASDAQ:DORM) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 140,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners. Approximately 85% of the Company’s products are sold under brands that it owns and the remainders of its products are sold for resale under customers’ private labels, other brands or in bulk. The Company also generates revenues from the sale of parts that it packages for sale in bulk or under the private labels of parts manufacturers and national warehouse distributors. The Company groups its products into four classes: power-train, automotive body, chassis and hardware. Its sub-brands include DORMAN OE Solutions, DORMAN HELP!, DORMAN TECHoice, DORMAN AutoGrade, DORMAN Conduct-Tite!, DORMAN FirstStop and DORMAN HD Solutions.

 

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