Dorman Products (NASDAQ:DORM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Freedom Broker raised Dorman Products from a “hold” rating to a “buy” rating and dropped their target price for the company from $154.00 to $152.00 in a research report on Wednesday, October 28th. Freedom Capital downgraded Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Roth Capital reissued a “buy” rating on shares of Dorman Products in a research report on Wednesday, August 5th. Finally, Weiss Ratings lowered Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.40.

Dorman Products Stock Up 2.4%

NASDAQ:DORM opened at $139.33 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.65 and a quick ratio of 1.73. Dorman Products has a 1-year low of $98.44 and a 1-year high of $155.37. The company has a 50-day moving average of $125.78 and a 200 day moving average of $123.62. The firm has a market cap of $4.11 billion, a PE ratio of 20.73 and a beta of 1.02.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, October 26th. The auto parts company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. Dorman Products had a net margin of 9.30% and a return on equity of 17.87%. The business had revenue of $561.72 million for the quarter, compared to the consensus estimate of $565.33 million. During the same quarter last year, the firm posted $2.62 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Dorman Products will post 8.61 EPS for the current fiscal year.

Insider Transactions at Dorman Products

In other news, CAO Gregory Bowen sold 3,531 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $145.01, for a total transaction of $512,030.31. Following the transaction, the chief accounting officer directly owned 5,340 shares of the company’s stock, valued at approximately $774,353.40. This represents a 39.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Dorman Products

A number of institutional investors have recently made changes to their positions in DORM. BlackRock Inc. purchased a new stake in Dorman Products in the second quarter valued at approximately $556,542,000. Dimensional Fund Advisors LP increased its holdings in Dorman Products by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,352 shares of the auto parts company’s stock worth $114,725,000 after buying an additional 51,653 shares during the period. Jennison Associates LLC increased its holdings in Dorman Products by 1.5% in the 1st quarter. Jennison Associates LLC now owns 826,285 shares of the auto parts company’s stock worth $86,231,000 after buying an additional 12,504 shares during the period. Reinhart Partners LLC. raised its position in Dorman Products by 1.8% during the 3rd quarter. Reinhart Partners LLC. now owns 696,562 shares of the auto parts company’s stock worth $85,399,000 after buying an additional 12,180 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Dorman Products during the 2nd quarter worth approximately $57,222,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.