Dorman Products (NASDAQ:DORM) Earns Overweight Rating from Analysts at Stephens

Key Points

• Analysts at Stephens have initiated coverage on Dorman Products with an "overweight" rating and a price target of $185.00, indicating a potential upside of 22.09% from its previous close.
• Recent earnings data reveals that Dorman Products reported $2.06 earnings per share, exceeding analysts' expectations by $0.30 and showing a revenue increase of 7.6% compared to the same quarter last year.
• Institutional investors hold a significant stake, with 84.70% of the company’s stock owned by them, reflecting strong confidence in Dorman Products' growth potential.

Research analysts at Stephens started coverage on shares of Dorman Products (NASDAQ:DORM - Get Free Report) in a research report issued on Tuesday,Benzinga reports. The firm set an "overweight" rating and a $185.00 price target on the auto parts company's stock. Stephens' price target points to a potential upside of 22.09% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Roth Capital lifted their target price on shares of Dorman Products to $182.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Zacks Research raised shares of Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Wells Fargo & Company initiated coverage on shares of Dorman Products in a research report on Friday, August 22nd. They set an "overweight" rating and a $175.00 price objective for the company. Wall Street Zen downgraded Dorman Products from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets assumed coverage on Dorman Products in a report on Thursday, September 18th. They issued an "outperform" rating and a $180.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $175.00.

Dorman Products Stock Performance

Dorman Products stock opened at $151.53 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. The stock has a market cap of $4.63 billion, a P/E ratio of 20.62 and a beta of 0.82. The firm's fifty day moving average price is $149.07 and its 200-day moving average price is $131.60. Dorman Products has a fifty-two week low of $106.95 and a fifty-two week high of $166.89.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.30. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.The firm had revenue of $540.96 million for the quarter, compared to analyst estimates of $517.13 million. During the same period last year, the company earned $1.67 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, equities research analysts expect that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insider Transactions at Dorman Products

In other news, CAO Gregory C. Bowen sold 1,453 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $162.81, for a total value of $236,562.93. Following the completion of the sale, the chief accounting officer directly owned 4,659 shares in the company, valued at $758,531.79. The trade was a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donna M. Long sold 820 shares of Dorman Products stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $122.21, for a total value of $100,212.20. Following the completion of the sale, the senior vice president owned 19,074 shares in the company, valued at approximately $2,331,033.54. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dorman Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in Dorman Products by 594.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company's stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Dorman Products by 961.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the auto parts company's stock valued at $40,000 after acquiring an additional 298 shares during the period. USA Financial Formulas increased its stake in Dorman Products by 127.6% during the first quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock worth $47,000 after purchasing an additional 217 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of Dorman Products by 30.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 428 shares of the auto parts company's stock valued at $53,000 after purchasing an additional 100 shares during the period. Finally, Blue Trust Inc. increased its stake in Dorman Products by 42.5% during the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.

Dorman Products Company Profile

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.

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