Dorman Products (NASDAQ:DORM) Coverage Initiated by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage on Dorman Products, setting an "overweight" rating and a price target of $175.00, indicating a potential upside of 14.29% from its current price.
• Analysts generally rate Dorman Products as a "Buy", with a consensus price target of $154.00, reflecting growing optimism about the company's performance.
• Dorman Products recently reported $2.06 EPS, surpassing estimates, and also projected 8.600-8.900 EPS for FY 2025, showcasing a positive outlook.

Wells Fargo & Company assumed coverage on shares of Dorman Products (NASDAQ:DORM - Free Report) in a research report released on Friday, MarketBeat Ratings reports. The firm issued an overweight rating and a $175.00 price objective on the auto parts company's stock.

Other analysts have also issued reports about the company. Zacks Research upgraded Dorman Products from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, Dorman Products has a consensus rating of "Buy" and an average price target of $154.00.

Dorman Products Stock Performance

Shares of NASDAQ:DORM traded up $9.61 during midday trading on Friday, reaching $162.73. 252,939 shares of the company traded hands, compared to its average volume of 269,390. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. Dorman Products has a 12 month low of $106.21 and a 12 month high of $163.45. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 22.14 and a beta of 0.79. The firm's fifty day moving average price is $130.32 and its two-hundred day moving average price is $125.64.

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

Insider Activity at Dorman Products

In other news, SVP Donna M. Long sold 820 shares of the stock in a transaction 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 owned 19,074 shares of the company's stock, valued at $2,331,033.54. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorman Products

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in Dorman Products by 594.1% during the second quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company's stock valued at $29,000 after acquiring an additional 202 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Dorman Products by 961.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the auto parts company's stock valued at $40,000 after acquiring an additional 298 shares during the last quarter. USA Financial Formulas grew its position in Dorman Products by 127.6% during the first quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock valued at $47,000 after acquiring an additional 217 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Dorman Products by 30.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 428 shares of the auto parts company's stock valued at $53,000 after acquiring an additional 100 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Dorman Products by 42.5% during the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock valued at $61,000 after acquiring an additional 150 shares during the last quarter. Institutional investors 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.