Dorman Products (NASDAQ:DORM) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Dorman Products to “Buy” from “Hold.” MarketBeat’s analyst consensus is “Moderate Buy,” based on six Buy ratings and three Hold ratings, with an average price target of $148.40.
• Dorman Products reported quarterly EPS of $2.08, exceeding the $2.00 consensus estimate, while revenue rose 3.3% year over year to $561.72 million, slightly below expectations.
• The stock opened at $136.01, up 1.8%, and institutional investors own a substantial 84.7% of outstanding shares; company insiders own 7.7%.

Dorman Products (NASDAQ:DORM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Freedom Capital cut Dorman Products from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Freedom Broker upgraded Dorman Products from a "hold" rating to a "buy" rating and reduced their target price for the company from $154.00 to $152.00 in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of Dorman Products from $160.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, October 23rd. Roth Capital restated a "buy" rating on shares of Dorman Products in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded Dorman Products from a "hold (c+)" rating to a "hold (c-)" rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.40.

Dorman Products Trading Up 1.8%

NASDAQ DORM opened at $136.01 on Friday. The stock has a market capitalization of $4.01 billion, a P/E ratio of 20.24 and a beta of 1.02. The firm has a 50-day moving average price of $125.64 and a 200 day moving average price of $123.55. Dorman Products has a 52-week low of $98.44 and a 52-week high of $155.37. The company has a quick ratio of 1.73, a current ratio of 3.65 and a debt-to-equity ratio of 0.28.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The auto parts company reported $2.08 earnings per share for the quarter, topping 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 analysts' expectations of $565.33 million. During the same period in the prior year, the company posted $2.62 EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Dorman Products will post 8.61 EPS for the current year.

Insider Buying and Selling at Dorman Products

In related news, CAO Gregory Bowen sold 3,531 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total transaction of $512,030.31. Following the completion of the sale, the chief accounting officer directly owned 5,340 shares of the company's stock, valued at approximately $774,353.40. This trade represents a 39.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On Dorman Products

A number of institutional investors have recently added to or reduced their stakes in DORM. BlackRock Inc. bought a new stake in shares of Dorman Products in the 2nd quarter worth about $556,542,000. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $114,725,000 after purchasing an additional 51,653 shares in the last quarter. Reinhart Partners LLC. bought a new position in shares of Dorman Products during the second quarter worth about $93,386,000. Jennison Associates LLC lifted its position in shares of Dorman Products by 1.5% during the first quarter. Jennison Associates LLC now owns 826,285 shares of the auto parts company's stock worth $86,231,000 after purchasing an additional 12,504 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Dorman Products during the second quarter worth about $57,222,000. Institutional investors and hedge funds own 84.70% of the company's stock.

About Dorman Products

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.

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