Dorman Products (NASDAQ:DORM) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Dorman Products (NASDAQ:DORM) from a buy rating to a hold rating in a research report sent to investors on Monday, 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. “

NASDAQ DORM opened at $96.73 on Monday. The business’s 50 day moving average is $97.36 and its two-hundred day moving average is $101.29. Dorman Products has a 12-month low of $81.89 and a 12-month high of $113.13. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.14 and a beta of 0.75.

Dorman Products (NASDAQ:DORM) last released its earnings results on Sunday, July 25th. The auto parts company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.06. Dorman Products had a return on equity of 16.61% and a net margin of 11.21%. The company had revenue of $310.64 million for the quarter, compared to analysts’ expectations of $286.42 million. As a group, research analysts predict that Dorman Products will post 4.62 earnings per share for the current year.

Several large investors have recently made changes to their positions in DORM. Bbva USA purchased a new stake in shares of Dorman Products during the 2nd quarter worth approximately $36,000. Heritage Wealth Management LLC boosted its stake in shares of Dorman Products by 58.2% during the 2nd quarter. Heritage Wealth Management LLC now owns 1,264 shares of the auto parts company’s stock worth $131,000 after acquiring an additional 465 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Dorman Products by 3,100.0% during the 1st quarter. Captrust Financial Advisors now owns 1,440 shares of the auto parts company’s stock worth $148,000 after acquiring an additional 1,395 shares in the last quarter. Liberty Wealth Management LLC boosted its stake in shares of Dorman Products by 10,267.0% during the 2nd quarter. Liberty Wealth Management LLC now owns 18,246 shares of the auto parts company’s stock worth $176,000 after acquiring an additional 18,070 shares in the last quarter. Finally, Howe & Rusling Inc. boosted its stake in shares of Dorman Products by 22.6% during the 1st quarter. Howe & Rusling Inc. now owns 1,805 shares of the auto parts company’s stock worth $185,000 after acquiring an additional 333 shares in the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.

Dorman Products Company Profile

Dorman Products, Inc engages in the supply of automotive replacement parts, fasteners, and service line products for the automotive aftermarket. Its products comprise of power-train, automotive body, chassis, and hardware. The company was founded by Steven L. Berman and Richard N. Berman in October 1978 and is headquartered in Colmar, PA.

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