Zacks Investment Research Lowers Dorman Products (NASDAQ:DORM) to Sell

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Dorman Products (NASDAQ:DORM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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 research analysts have also commented on DORM. B. Riley cut their price objective on shares of Dorman Products from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. ValuEngine upgraded shares of Dorman Products from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Barrington Research began coverage on shares of Dorman Products in a research note on Monday. They set a “hold” rating on the stock. Stephens dropped their price target on shares of Dorman Products from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, TheStreet lowered shares of Dorman Products from a “b-” rating to a “c+” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $62.50.

DORM stock traded up $0.58 on Wednesday, reaching $64.54. The company’s stock had a trading volume of 285,100 shares, compared to its average volume of 167,374. Dorman Products has a 52 week low of $63.53 and a 52 week high of $95.72. The company has a market capitalization of $2.17 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.49. The firm has a fifty day moving average of $74.40 and a two-hundred day moving average of $75.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.71 and a quick ratio of 2.26.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Monday, February 24th. The auto parts company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.18). Dorman Products had a net margin of 8.45% and a return on equity of 11.50%. The business had revenue of $239.57 million for the quarter, compared to the consensus estimate of $265.89 million. During the same period in the previous year, the firm earned $1.10 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, equities analysts expect that Dorman Products will post 3.4 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of DORM. Geode Capital Management LLC boosted its stake in Dorman Products by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 417,364 shares of the auto parts company’s stock valued at $31,602,000 after buying an additional 13,995 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Dorman Products by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 10,161 shares of the auto parts company’s stock worth $769,000 after acquiring an additional 253 shares during the period. Janus Henderson Group PLC raised its position in Dorman Products by 10.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,074,229 shares of the auto parts company’s stock worth $81,341,000 after acquiring an additional 98,297 shares in the last quarter. Standard Life Aberdeen plc raised its position in Dorman Products by 13.0% in the fourth quarter. Standard Life Aberdeen plc now owns 361,272 shares of the auto parts company’s stock worth $27,356,000 after acquiring an additional 41,619 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Dorman Products in the 4th quarter valued at about $240,000. 82.88% of the stock is currently 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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