Dorman Products’ (DORM) Neutral Rating Reiterated at FBR & Co
FBR & Co reiterated their neutral rating on shares of Dorman Products, Inc. (NASDAQ:DORM) in a report released on Monday, MarketBeat.com reports. The firm currently has a $65.00 price objective on the auto parts company’s stock, down from their previous price objective of $75.00. FBR & Co also issued estimates for Dorman Products’ Q4 2017 earnings at $0.85 EPS, FY2017 earnings at $3.32 EPS, Q1 2018 earnings at $0.89 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $0.99 EPS and FY2018 earnings at $3.78 EPS.
A number of other brokerages also recently weighed in on DORM. Zacks Investment Research downgraded shares of Dorman Products from a buy rating to a hold rating in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Dorman Products from a hold rating to a sell rating in a research note on Friday, August 18th. Finally, Jefferies Group LLC reissued a hold rating and set a $75.00 target price on shares of Dorman Products in a research note on Sunday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Dorman Products currently has an average rating of Hold and a consensus target price of $69.88.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Friday, October 27th. The auto parts company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.07). Dorman Products had a return on equity of 18.32% and a net margin of 12.53%. The firm had revenue of $224.60 million for the quarter, compared to the consensus estimate of $233.56 million. During the same period in the prior year, the business earned $0.77 EPS. Dorman Products’s quarterly revenue was up 5.5% on a year-over-year basis.
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In other news, Director Paul R. Lederer sold 1,800 shares of Dorman Products stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.82, for a total transaction of $134,676.00. Following the completion of the transaction, the director now directly owns 16,961 shares in the company, valued at $1,269,022.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.70% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. YorkBridge Wealth Partners LLC boosted its holdings in 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 purchasing an additional 41 shares during the last quarter. SG Americas Securities LLC purchased a new position in Dorman Products during the second quarter worth about $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 purchasing an additional 118 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in 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 purchasing an additional 139 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its holdings in 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 purchasing an additional 1,740 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.
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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