Dorman Products, Inc. (NASDAQ:DORM) – Equities researchers at Barrington Research reduced their FY2017 earnings per share (EPS) estimates for Dorman Products in a research note issued on Monday. Barrington Research analyst G. Prestopino now anticipates that the auto parts company will post earnings of $3.35 per share for the year, down from their prior estimate of $3.45. Barrington Research also issued estimates for Dorman Products’ Q4 2017 earnings at $0.88 EPS, Q1 2018 earnings at $0.95 EPS, Q3 2018 earnings at $0.92 EPS, Q4 2018 earnings at $0.96 EPS and FY2018 earnings at $3.79 EPS.
Dorman Products (NASDAQ:DORM) last posted 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 business had revenue of $224.60 million during the quarter, compared to the consensus estimate of $233.56 million. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis.
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Several other research firms also recently weighed in on DORM. BidaskClub downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. FBR & Co reissued a “neutral” rating and issued a $65.00 price target (down from $75.00) on shares of Dorman Products in a research note on Monday. B. Riley FBR, Inc. decreased their price target on shares of Dorman Products from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price target on shares of Dorman Products in a research note on Sunday. Finally, Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Dorman Products presently has a consensus rating of “Hold” and an average target price of $69.88.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Dorman Products by 161,230.6% during the first quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock worth $287,394,000 after purchasing an additional 3,497,091 shares during the period. FMR LLC purchased a new position in Dorman Products during the first quarter worth about $29,140,000. Vanguard Group Inc. raised its stake in Dorman Products by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,806,822 shares of the auto parts company’s stock worth $230,525,000 after purchasing an additional 127,653 shares during the period. Bank of America Corp DE raised its stake in Dorman Products by 48.3% during the first quarter. Bank of America Corp DE now owns 338,751 shares of the auto parts company’s stock worth $27,822,000 after purchasing an additional 110,389 shares during the period. Finally, Fiera Capital Corp raised its stake in Dorman Products by 369.3% during the second quarter. Fiera Capital Corp now owns 139,577 shares of the auto parts company’s stock worth $11,553,000 after purchasing an additional 109,835 shares during the period. 76.07% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Paul R. Lederer sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.82, for a total value of $134,676.00. Following the transaction, the director now directly owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.70% 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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