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Hot Stocks
Dorman Products reaffirms temporary halt of share repurchase program » 07:10
04/27/20
04/27
07:10
04/27/20
07:10
DORM

Dorman Products

$57.64 /

-0.1 (-0.17%)

The company said,…

The company said, "Under its share repurchase program, Dorman repurchased 92.0 thousand shares of its common stock for $5.5 million at an average share price of $59.41 during the quarter ended March 28, 2020. The Company has $138.5 million left under its current share repurchase authorization. As communicated on April 8, 2020, the Company temporarily halted its share repurchase program while it navigates the uncertain COVID-19 environment. However, the Company may resume the repurchase program at any time when the Company believes it is prudent to do so and without further notice."

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DORM Dorman Products
$57.64 /

-0.1 (-0.17%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Hot Stocks
Dorman Products says new Portland, TN facility 'fully operational' » 07:09
04/27/20
04/27
07:09
04/27/20
07:09
DORM

Dorman Products

$57.64 /

-0.1 (-0.17%)

The company said,…

The company said, "Early in 2019, Dorman began the process of transferring operations of its existing distribution facility in Portland, TN to a new, larger facility nearby. The Company completed this move early in the fourth quarter of 2019, and the new facility is fully operational. Dorman expects this move to improve customer service capabilities and efficiency moving forward. However, in the first quarter of 2020, the Portland facility costs were approximately $1.3 million higher than in the prior year quarter due to lower productivity levels as we continued to ramp up production. Sequentially when compared to the fourth quarter of 2019, the Portland facility made strong progress as we implemented planned productivity initiatives that reduced costs in the first quarter of 2020 by $3.9 million compared to the fourth quarter of 2019, with $0.6 million of the improvement impacting gross profit and $3.3 million impacting SG&A expenses. The Company expects distribution costs to be back to more typical levels during the second half of 2020, subject to the impact of COVID-19."

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DORM Dorman Products
$57.64 /

-0.1 (-0.17%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Earnings
Dorman Products reaffirms withdrawal of FY20 guidance » 07:07
04/27/20
04/27
07:07
04/27/20
07:07
DORM

Dorman Products

$57.64 /

-0.1 (-0.17%)

The company said,…

The company said, "In late March, Dorman began experiencing softening customer demand as a result of government-imposed restrictions designed to slow the spread of COVID-19 and expects those trends to continue through the second quarter and potentially longer. Dorman expects demand to continue to be soft while government-imposed restrictions to curb the spread of COVID-19 remain in place. However, it is difficult to determine the full impact that the pandemic will have on the overall demand environment and Dorman's operations. Therefore, the Company previously withdrew its guidance for fiscal 2020 and is not in a position to issue updated fiscal 2020 guidance at this time."

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DORM Dorman Products
$57.64 /

-0.1 (-0.17%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Hot Stocks
Dorman Products reports COVID-19 impact on Q1 net sales $4M-$6M » 07:06
04/27/20
04/27
07:06
04/27/20
07:06
DORM

Dorman Products

$57.64 /

-0.1 (-0.17%)

The company said,…

The company said, "Throughout the U.S., automotive repair and the related supply and distribution of parts have generally been classified as essential businesses exempted from government shutdowns. Therefore, the vast majority of Dorman's retail and wholesale customers are open for business, and in turn, all of Dorman's U.S. facilities are also open and operating at this time, with modified staffing in certain locations where appropriate. Dorman is closely monitoring updates from local, state and federal authorities, and adjusting its operations as necessary. Dorman has taken actions to promote the welfare of its employees by enhancing safety protocols, including requiring administrative employees to work from home where applicable and implementing social distancing and robust sanitization practices at its facilities. In addition, the Company has adopted a COVID-19 sick leave policy providing continued salary and benefits to eligible employees. As a result of the potential prolonged economic impact of the COVID-19 pandemic, as previously reported, the Company has taken proactive steps to manage its costs and bolster its balance sheet and cash position, including: Drawing down $99 million from its revolving credit facility, which matures in December 2022; Increasing the level of receivables collected under various factoring programs; Temporarily suspending its share repurchase program; and Adjusting its cost structure, investment spending, and inventory position to align with anticipated customer demand levels.As a result of these actions, the Company increased its cash and cash equivalents from $162 million as of the end of the first quarter 2020 to approximately $300 million as of April 24, 2020. The Company estimates that the impact on first quarter 2020 from the COVID-19 pandemic to be approximately $4 million to $6 million on net sales, and $0.03 to $0.05 to diluted earnings per share, primarily due to the decline in customer demand late in March."

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DORM Dorman Products
$57.64 /

-0.1 (-0.17%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Earnings
Dorman Products reports Q1 adj. EPS 66c, consensus 65c » 07:05
04/27/20
04/27
07:05
04/27/20
07:05
DORM

Dorman Products

$57.64 /

-0.1 (-0.17%)

Reports Q1 revenue…

Reports Q1 revenue $257.7M, consensus $238.04M. Kevin Olsen, Dorman Products' President and CEO, stated, "First and foremost, our best wishes go out to all those affected by COVID-19, and we'd like to thank all of our contributors for their extraordinary work during these unprecedented times. The health and safety of our contributors, customers, and suppliers remains our utmost priority and we continue to closely monitor the situation, adjusting our business continuity plans as appropriate. We started the year off strong, reporting first quarter net sales and earnings per share ahead of our expectations, driven by growth across both retail and warehouse distributor channels. We continued to bring innovative products to market and delivered 19% growth in heavy duty sales in the quarter. We also made solid progress on our strategic initiatives, including significantly improving our productivity levels at our Portland, TN distribution facility as planned."

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DORM Dorman Products
$57.64 /

-0.1 (-0.17%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Hot Stocks
Dorman Products provides business update related to COVID-19 pandemic » 16:08
04/08/20
04/08
16:08
04/08/20
16:08
DORM

Dorman Products

$56.70 /

+2.41 (+4.44%)

Dorman Products provided…

Dorman Products provided an update on its business operations in light of the ongoing COVID-19 pandemic. Throughout the U.S., automotive repair and the related supply and distribution of parts have generally been classified as essential businesses exempted from government shutdowns. Therefore, the vast majority of Dorman's retail and wholesale customers are open for business, and in turn, all of Dorman's U.S. facilities are also open and operating at this time, with modified staffing in certain locations where appropriate. Dorman has taken actions to promote the welfare of its employees by enhancing safety protocols, including encouraging employees to work from home where applicable and implementing social distancing and sanitization practices at its facilities. Dorman has also adopted a COVID-19 sick leave policy providing continued salary and benefits to eligible employees. Operationally, Dorman's global network of parts suppliers is meeting Dorman's current demand levels, including Dorman's suppliers in China that experienced a slowdown in the first part of Q1 of FY20 due to the pandemic. The company will continue to closely monitor updates regarding the spread of COVID-19 and adjust its operations according to guidelines from local, state and federal officials. Dorman exited 2019 with a strong balance sheet and since then, in light of the COVID-19 pandemic, took steps to manage its costs and bolster its balance sheet and cash position, including: Drawing down $99M from its $100 million revolving credit facility, which matures in December 2022; Increasing the level of receivables collected under various factoring programs; Temporarily suspending its share repurchase program; Managing inventories and operating costs to quickly adjust to demand dynamics; Limiting non-essential operating expenses and deferring capital expenditures, as appropriate. As a result of these actions, the company increased its cash position and, as of April 7, the company had approximately $300M in cash and cash equivalents. Dorman believes that its asset light model and ample liquidity position it well to navigate the current economic disruption associated with the ongoing COVID-19 pandemic.

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DORM Dorman Products
$56.70 /

+2.41 (+4.44%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Earnings
Dorman Products withdraws FY20 guidance due to COVID-19 pandemic » 16:02
04/08/20
04/08
16:02
04/08/20
16:02
DORM

Dorman Products

$56.21 /

+1.92 (+3.54%)

The company said,…

The company said, "Given the uncertainty of the current environment, we are withdrawing our previously announced guidance for fiscal 2020, which did not contemplate the impact of the COVID-19 pandemic. While the duration and magnitude of this situation remain uncertain, we believe our strong balance sheet and liquidity position us well to navigate these conditions. Our industry is extremely resilient, and we believe that once the government-imposed lockdowns are lifted, auto and truck repairs will return to more normal levels."

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DORM Dorman Products
$56.21 /

+1.92 (+3.54%)

03/19/20 CL King
Dorman Products upgraded to Buy from Neutral at CL King
02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Over a quarter ago
Upgrade
Dorman Products upgraded to Buy from Neutral at CL King » 07:07
03/19/20
03/19
07:07
03/19/20
07:07
DORM

Dorman Products

$61.92 /

+4.92 (+8.63%)

CL King analyst Scott…

CL King analyst Scott Stember upgraded Dorman Products to Buy from Neutral.

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DORM Dorman Products
$61.92 /

+4.92 (+8.63%)

02/25/20 B. Riley FBR
Dorman Products price target lowered to $60 from $70 at B. Riley FBR
12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Recommendations
Dorman Products price target lowered to $60 from $70 at B. Riley FBR » 08:43
02/25/20
02/25
08:43
02/25/20
08:43
DORM

Dorman Products

$66.41 /

-10.53 (-13.69%)

B. Riley FBR analyst…

B. Riley FBR analyst Christopher Van Horn lowered the firm's price target on Dorman Products to $60 from $70 and keeps a Neutral rating on the shares. The analyst sees a challenged comp growth from Dorman's customers on the retail side, which he feels should continue to impact revenues in Q1 and Q2. Further, the company's outlook for 2020 is uncertain, says Van Horn.

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DORM Dorman Products
$66.41 /

-10.53 (-13.69%)

12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens
Hot Stocks
Dorman Products expects to face 'difficult comparisons' in Q1 » 07:05
02/24/20
02/24
07:05
02/24/20
07:05
DORM

Dorman Products

$76.94 /

+0.68 (+0.89%)

The company said,…

The company said, "In the first quarter of 2020, we expect to face difficult comparisons to the prior year period results, but we expect our financial results to improve throughout the year as we benefit from efficiencies at our new Portland, TN facility, new contract wins that we expect to launch in the second half of 2020 and the continued introduction of new products."

ShowHide Related Items >><<
DORM Dorman Products
$76.94 /

+0.68 (+0.89%)

12/20/19 Stephens
Stephens starts Dorman Products at Equal Weight with $75 price target
12/19/19 Stephens
Dorman Products initiated with an Equal Weight at Stephens

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