Dorman Products (NASDAQ:DORM) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Dorman Products (NASDAQ:DORM) from a buy rating to a strong-buy rating in a research note published on Friday morning.

Dorman Products Stock Performance

Shares of DORM opened at $132.03 on Friday. Dorman Products has a 12 month low of $87.05 and a 12 month high of $146.60. The stock has a fifty day moving average price of $119.67 and a 200-day moving average price of $127.41. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.03 billion, a PE ratio of 22.08 and a beta of 0.86.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Monday, May 5th. The auto parts company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.48 by $0.54. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The firm had revenue of $507.69 million during the quarter, compared to analyst estimates of $483.09 million. During the same quarter in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts predict that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insider Activity at Dorman Products

In related news, SVP Donna M. Long sold 742 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $130.38, for a total value of $96,741.96. Following the transaction, the senior vice president now directly owns 19,894 shares of the company’s stock, valued at $2,593,779.72. This represents a 3.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorman Products

Several hedge funds have recently made changes to their positions in the company. United Services Automobile Association acquired a new position in shares of Dorman Products in the 1st quarter valued at $215,000. Caxton Associates LLP acquired a new position in shares of Dorman Products in the 1st quarter valued at $640,000. Dynamic Technology Lab Private Ltd acquired a new stake in Dorman Products during the 1st quarter worth about $1,440,000. Millennium Management LLC grew its position in Dorman Products by 74.6% during the 1st quarter. Millennium Management LLC now owns 33,021 shares of the auto parts company’s stock worth $3,980,000 after purchasing an additional 14,110 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Dorman Products by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,381 shares of the auto parts company’s stock worth $1,854,000 after purchasing an additional 662 shares during the period. 84.70% of the stock is 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.