Wall Street Zen Downgrades Dorman Products (NASDAQ:DORM) to Buy

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 Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Dorman Products Price Performance

Shares of NASDAQ DORM traded up $1.91 during mid-day trading on Friday, hitting $151.59. 76,090 shares of the stock were exchanged, compared to its average volume of 218,675. The company has a market cap of $4.63 billion, a P/E ratio of 20.62 and a beta of 0.79. The stock's fifty day simple moving average is $125.81 and its two-hundred day simple moving average is $124.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. Dorman Products has a twelve month low of $103.28 and a twelve month high of $152.55.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its earnings results 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 net margin of 10.83% and a return on equity of 19.23%. The company had revenue of $540.96 million during the quarter, compared to the consensus estimate of $517.13 million. During the same period in the previous year, the firm posted $1.67 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. As a group, analysts forecast that Dorman Products will post 6.9 EPS for the current fiscal year.

Insider Activity at Dorman Products

In other Dorman Products news, Director John J. Gavin sold 2,900 shares of the business's 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 sale, the director directly owned 8,132 shares of the company's stock, valued at $1,066,837.08. The trade was a 26.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Donna M. Long sold 820 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $122.21, for a total transaction of $100,212.20. Following the transaction, 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 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

Institutional investors have recently added to or reduced their stakes in the business. First National Advisers LLC lifted its position in shares of Dorman Products by 3.6% during the 2nd quarter. First National Advisers LLC now owns 4,758 shares of the auto parts company's stock valued at $584,000 after acquiring an additional 165 shares during the period. New York State Common Retirement Fund grew its position in Dorman Products by 0.9% during the second quarter. New York State Common Retirement Fund now owns 102,514 shares of the auto parts company's stock valued at $12,575,000 after buying an additional 900 shares during the period. Norges Bank bought a new position in Dorman Products during the second quarter worth about $40,449,000. Measured Wealth Private Client Group LLC lifted its holdings in shares of Dorman Products by 21.1% in the second quarter. Measured Wealth Private Client Group LLC now owns 4,752 shares of the auto parts company's stock worth $583,000 after buying an additional 829 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of Dorman Products by 125.2% in the second quarter. Quadrature Capital Ltd now owns 5,030 shares of the auto parts company's stock valued at $617,000 after acquiring an additional 2,796 shares during the period. 84.70% of the stock is owned by institutional investors.

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.