Dorman Products (NASDAQ:DORM) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Dorman Products from a "strong-buy" rating to a "buy" rating in a recent report to investors.
• Dorman Products surpassed analysts' expectations with $2.06 earnings per share for the last quarter, compared to the anticipated $1.76.
• A significant portion of Dorman Products’ stock, approximately 84.70%, is owned by institutional investors, indicating strong institutional interest in the company.

Dorman Products (NASDAQ:DORM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Dorman Products Stock Up 2.4%

Shares of NASDAQ DORM traded up $3.29 during midday trading on Friday, reaching $142.86. 234,849 shares of the company's stock traded hands, compared to its average volume of 218,254. Dorman Products has a one year low of $103.08 and a one year high of $146.60. The stock's 50 day simple moving average is $125.04 and its 200-day simple moving average is $124.13. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 19.44 and a beta of 0.79.

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

Insider Activity

In other news, SVP Donna M. Long sold 820 shares of Dorman Products stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $122.21, for a total value of $100,212.20. Following the sale, the senior vice president owned 19,074 shares in the company, valued at $2,331,033.54. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Gavin sold 2,900 shares of Dorman Products stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $131.19, for a total transaction of $380,451.00. Following the completion of the sale, the director owned 8,132 shares in the company, valued at approximately $1,066,837.08. This trade represents a 26.29% decrease in their position. The disclosure for this sale can be found here. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorman Products

A number of institutional investors and hedge funds have recently bought and sold shares of DORM. Captrust Financial Advisors increased its stake in Dorman Products by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company's stock worth $247,000 after buying an additional 79 shares during the period. Summit Investment Advisors Inc. grew its holdings in Dorman Products by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company's stock worth $350,000 after acquiring an additional 87 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Dorman Products by 5.7% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,644 shares of the auto parts company's stock worth $213,000 after acquiring an additional 88 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Dorman Products by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,469 shares of the auto parts company's stock worth $298,000 after acquiring an additional 90 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Dorman Products by 4.8% during the 1st quarter. Xponance Inc. now owns 1,966 shares of the auto parts company's stock worth $237,000 after acquiring an additional 90 shares in 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.