Dorman Products (NASDAQ:DORM) Upgraded by Stephens to Strong-Buy Rating

Key Points

• Dorman Products has been upgraded to a "strong-buy" rating by Stephens, with other firms also expressing positive sentiment towards the stock with target prices ranging from $175.00 to $182.00.
• In its latest earnings report, Dorman Products exceeded analyst expectations with a reported $2.06 EPS for the quarter and revenue of $540.96 million, reflecting a 7.6% year-over-year growth.
• Institutional investors control approximately 84.70% of Dorman Products' stock, with several firms significantly increasing their holdings in recent quarters.

Dorman Products (NASDAQ:DORM - Get Free Report) was upgraded by analysts at Stephens to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently weighed in on DORM. BMO Capital Markets initiated coverage on Dorman Products in a report on Thursday, September 18th. They issued an "outperform" rating and a $180.00 target price for the company. Roth Capital boosted their target price on Dorman Products to $182.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded Dorman Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Wells Fargo & Company initiated coverage on Dorman Products in a report on Friday, August 22nd. They issued an "overweight" rating and a $175.00 target price for the company. Finally, Zacks Research raised Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Dorman Products presently has an average rating of "Buy" and an average target price of $175.00.

Dorman Products Stock Up 2.9%

Shares of NASDAQ DORM opened at $155.88 on Monday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 21.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.74 and a quick ratio of 1.21. The business has a 50-day moving average of $149.75 and a two-hundred day moving average of $131.77. Dorman Products has a 1 year low of $106.95 and a 1 year high of $166.89.

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

Insider Activity at Dorman Products

In other Dorman Products 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 transaction of $236,562.93. Following the transaction, the chief accounting officer owned 4,659 shares in the company, valued at approximately $758,531.79. The trade was a 23.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Donna M. Long sold 820 shares of the company's stock in a transaction that occurred on 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. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Dorman Products

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

About Dorman Products

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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