Dorman Products (DORM) Lifted to “Buy” at ValuEngine

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ValuEngine upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other equities research analysts have also issued reports on DORM. BidaskClub upgraded Dorman Products from a hold rating to a buy rating in a research note on Tuesday, August 14th. Barrington Research reiterated a hold rating and issued a $16.00 target price on shares of Dorman Products in a research note on Friday, October 5th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $46.50.

Shares of DORM stock traded up $3.99 during trading hours on Tuesday, reaching $90.57. The company had a trading volume of 8,297 shares, compared to its average volume of 155,387. Dorman Products has a twelve month low of $56.36 and a twelve month high of $86.58. The firm has a market cap of $2.74 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Thursday, October 25th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%. The business had revenue of $247.95 million during the quarter, compared to analyst estimates of $234.46 million. As a group, research analysts expect that Dorman Products will post 4.18 EPS for the current fiscal year.

In other Dorman Products news, CEO Mathias J. Barton sold 18,986 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $81.34, for a total transaction of $1,544,321.24. Following the completion of the sale, the chief executive officer now owns 111,011 shares in the company, valued at approximately $9,029,634.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of DORM. Principal Financial Group Inc. grew its stake in Dorman Products by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 228,991 shares of the auto parts company’s stock valued at $15,161,000 after purchasing an additional 3,731 shares in the last quarter. Bank of Montreal Can grew its stake in Dorman Products by 18.2% during the 2nd quarter. Bank of Montreal Can now owns 7,736 shares of the auto parts company’s stock valued at $528,000 after purchasing an additional 1,191 shares in the last quarter. Summit Creek Advisors LLC grew its stake in Dorman Products by 1.0% during the 2nd quarter. Summit Creek Advisors LLC now owns 155,318 shares of the auto parts company’s stock valued at $10,610,000 after purchasing an additional 1,570 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Dorman Products during the 2nd quarter valued at approximately $300,000. Finally, Conestoga Capital Advisors LLC grew its stake in Dorman Products by 6.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 647,313 shares of the auto parts company’s stock valued at $44,218,000 after purchasing an additional 37,985 shares in the last quarter. Hedge funds and other institutional investors own 79.12% of the company’s stock.

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.

See Also: Understanding Average Daily Trade Volume

To view ValuEngine’s full report, visit ValuEngine’s official website.

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