Dorman Products (NASDAQ:DORM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Dorman Products (NASDAQ:DORM - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Dorman Products Trading Down 3.1%

DORM traded down $4.07 during mid-day trading on Friday, hitting $126.43. The stock had a trading volume of 138,332 shares, compared to its average volume of 184,097. The stock's fifty day simple moving average is $119.83 and its 200-day simple moving average is $127.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 21.14 and a beta of 0.86. Dorman Products has a 1-year low of $87.05 and a 1-year high of $146.60.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its earnings results on Monday, May 5th. The auto parts company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.54. The company had revenue of $507.69 million for the quarter, compared to analyst estimates of $483.09 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. As a group, research analysts forecast that Dorman Products will post 6.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John J. Gavin sold 2,900 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $131.19, for a total transaction of $380,451.00. Following the sale, the director now directly owns 8,132 shares in the company, valued at $1,066,837.08. This trade represents a 26.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Donna M. Long sold 742 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $130.38, for a total transaction of $96,741.96. Following the sale, the senior vice president now owns 19,894 shares in the company, valued at approximately $2,593,779.72. The trade was a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Dorman Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Dorman Products by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,028,728 shares of the auto parts company's stock worth $392,372,000 after acquiring an additional 91,361 shares during the period. Invesco Ltd. increased its stake in Dorman Products by 22.1% in the 1st quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company's stock valued at $91,704,000 after buying an additional 137,913 shares during the last quarter. GW&K Investment Management LLC increased its stake in Dorman Products by 0.7% in the 1st quarter. GW&K Investment Management LLC now owns 601,363 shares of the auto parts company's stock valued at $72,489,000 after buying an additional 4,363 shares during the last quarter. Jennison Associates LLC increased its stake in Dorman Products by 32.1% in the 1st quarter. Jennison Associates LLC now owns 598,642 shares of the auto parts company's stock valued at $72,160,000 after buying an additional 145,391 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Dorman Products by 192.9% in the 1st quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company's stock valued at $61,691,000 after buying an additional 337,074 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.