Dorman Products (NASDAQ:DORM) Upgraded to "Buy (B-)" at Weiss Ratings

Key Points

• Dorman Products has been upgraded to a "Buy (B-)" rating from Weiss Ratings, improving from a previous "hold (C+)" rating.
• The stock's average target price has been set at $175.00 by analysts, with multiple ratings of "Buy" and "Strong Buy" from various investment firms.
• Dorman Products recently reported a quarterly earnings per share of $2.06, exceeding expectations and reflecting significant revenue growth of 7.6% year-over-year.

Dorman Products (NASDAQ:DORM - Get Free Report) was upgraded by analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research report issued on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on DORM. Wall Street Zen downgraded Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Roth Capital upped their target price on Dorman Products to $182.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. BMO Capital Markets started coverage on Dorman Products in a research note on Thursday, September 18th. They issued an "outperform" rating and a $180.00 target price on the stock. Zacks Research raised Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company started coverage on Dorman Products in a report on Friday, August 22nd. They issued an "overweight" rating and a $175.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. 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 0.3%

DORM stock traded up $0.37 on Wednesday, hitting $143.37. 195,836 shares of the company's stock were exchanged, compared to its average volume of 154,583. Dorman Products has a 12-month low of $106.95 and a 12-month high of $166.89. The firm has a 50 day moving average price of $153.16 and a two-hundred day moving average price of $132.73. 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 $4.38 billion, a P/E ratio of 19.51 and a beta of 0.84.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.30. The business had revenue of $540.96 million for 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%.The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.67 EPS. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. As a group, equities research analysts expect that Dorman Products will post 6.9 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Dorman Products

A number of large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its position in shares of Dorman Products by 130.1% in the third quarter. Assenagon Asset Management S.A. now owns 23,036 shares of the auto parts company's stock valued at $3,591,000 after purchasing an additional 13,025 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Dorman Products in the third quarter valued at approximately $27,000. Texas Permanent School Fund Corp grew its position in shares of Dorman Products by 17.6% in the second quarter. Texas Permanent School Fund Corp now owns 29,209 shares of the auto parts company's stock valued at $3,583,000 after purchasing an additional 4,374 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Dorman Products by 1,147.5% in the second quarter. Osaic Holdings Inc. now owns 5,726 shares of the auto parts company's stock valued at $691,000 after purchasing an additional 5,267 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in shares of Dorman Products by 0.8% in the second quarter. Orion Porfolio Solutions LLC now owns 23,673 shares of the auto parts company's stock valued at $2,904,000 after purchasing an additional 195 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

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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