Wall Street Zen Upgrades Dorman Products (NASDAQ:DORM) to “Buy”

Dorman Products (NASDAQ:DORM) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on the stock. Freedom Broker raised shares of Dorman Products from a “hold” rating to a “buy” rating and cut their price objective for the company from $154.00 to $152.00 in a report on Wednesday, October 28th. Weiss Ratings cut Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday. Roth Capital reaffirmed a “buy” rating on shares of Dorman Products in a report on Wednesday, August 5th. Freedom Capital cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Wells Fargo & Company lowered their price target on Dorman Products from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Dorman Products presently has an average rating of “Moderate Buy” and a consensus target price of $148.40.

Dorman Products Stock Performance

Dorman Products stock opened at $136.01 on Friday. Dorman Products has a 52 week low of $98.44 and a 52 week high of $155.37. The stock has a 50-day moving average price of $125.64 and a 200 day moving average price of $123.55. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 20.24 and a beta of 0.98. The company has a quick ratio of 1.88, a current ratio of 3.65 and a debt-to-equity ratio of 0.28.

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

Insider Activity

In other news, CAO Gregory Bowen sold 3,531 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total transaction of $512,030.31. Following the sale, the chief accounting officer directly owned 5,340 shares in the company, valued at approximately $774,353.40. This represents a 39.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DORM. Keybank National Association OH increased its holdings in Dorman Products by 1.5% in the first quarter. Keybank National Association OH now owns 7,101 shares of the auto parts company’s stock valued at $741,000 after purchasing an additional 106 shares during the last quarter. Liontrust Investment Partners LLP boosted its holdings in Dorman Products by 7.6% during the 1st quarter. Liontrust Investment Partners LLP now owns 2,123 shares of the auto parts company’s stock valued at $222,000 after acquiring an additional 150 shares during the period. Allworth Financial LP purchased a new stake in Dorman Products in the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Dorman Products in the 2nd quarter valued at about $26,000. Finally, GAMMA Investing LLC increased its holdings in shares of Dorman Products by 32.9% in the 3rd 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 during the period. 84.70% of the stock is currently owned by 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.