Dorman Products (NASDAQ:DORM) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $152.00 price objective on the auto parts company’s stock, down from their prior price objective of $154.00.

Several other analysts have also commented on the stock. Weiss Ratings raised shares of Dorman Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Wells Fargo & Company dropped their target price on shares of Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Freedom Capital downgraded shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Roth Capital reissued a “buy” rating on shares of Dorman Products in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.40.

Dorman Products Stock Up 1.8%

DORM opened at $136.01 on Wednesday. The company has a market cap of $4.01 billion, a PE ratio of 20.24 and a beta of 1.02. Dorman Products has a twelve month low of $98.44 and a twelve month high of $155.37. The company has a 50-day moving average price of $125.64 and a 200 day moving average price of $123.55. The company has a quick ratio of 1.73, a current ratio of 3.65 and a debt-to-equity ratio of 0.28.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Monday, October 26th. The auto parts company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. Dorman Products had a return on equity of 17.87% and a net margin of 9.30%. The firm had revenue of $561.72 million for the quarter, compared to analyst estimates of $565.33 million. During the same period in the previous year, the company posted $2.62 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Dorman Products will post 8.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dorman Products news, CAO Gregory Bowen sold 3,531 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $145.01, for a total value of $512,030.31. Following the sale, the chief accounting officer owned 5,340 shares of the company’s stock, valued at $774,353.40. This trade represents a 39.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorman Products

Hedge funds have recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC raised its stake in shares of Dorman Products by 23,333.3% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 2,812 shares of the auto parts company’s stock worth $345,000 after buying an additional 2,800 shares in the last quarter. Bridge City Capital LLC raised its holdings in shares of Dorman Products by 13.9% in the third quarter. Bridge City Capital LLC now owns 66,751 shares of the auto parts company’s stock worth $8,184,000 after acquiring an additional 8,163 shares during the last quarter. BOKF NA acquired a new position in shares of Dorman Products in the third quarter worth $394,000. Reinhart Partners LLC. lifted its position in shares of Dorman Products by 1.8% in the third quarter. Reinhart Partners LLC. now owns 696,562 shares of the auto parts company’s stock valued at $85,399,000 after acquiring an additional 12,180 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Dorman Products by 32.9% in the third quarter. GAMMA Investing LLC now owns 857 shares of the auto parts company’s stock valued at $105,000 after acquiring an additional 212 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.