Dorman Products (NASDAQ:DORM) Rating Increased 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.

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $153.00 price target (up from $126.00) on shares of Dorman Products in a research note on Monday, November 4th.

Dorman Products Stock Performance

NASDAQ:DORM opened at $131.46 on Friday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 21.98 and a beta of 0.88. The business has a 50 day moving average of $128.60 and a 200 day moving average of $123.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. Dorman Products has a 1-year low of $86.61 and a 1-year high of $146.60.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Wednesday, February 26th. The auto parts company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.21. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The company had revenue of $533.77 million for the quarter, compared to analysts’ expectations of $523.95 million. On average, sell-side analysts predict that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven L. Berman sold 8,524 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $131.79, for a total transaction of $1,123,377.96. Following the completion of the transaction, the director now owns 773,094 shares in the company, valued at $101,886,058.26. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Mcknight sold 8,185 shares of Dorman Products stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $139.34, for a total transaction of $1,140,497.90. Following the completion of the sale, the insider now owns 8,902 shares in the company, valued at approximately $1,240,404.68. This trade represents a 47.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,533 shares of company stock valued at $6,619,683 in the last quarter. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Dorman Products

A number of large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its holdings in Dorman Products by 518.4% in the fourth quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company’s stock worth $30,000 after buying an additional 197 shares during the period. Quent Capital LLC bought a new position in shares of Dorman Products in the 4th quarter worth approximately $31,000. Westside Investment Management Inc. bought a new stake in shares of Dorman Products during the third quarter valued at approximately $29,000. Advisors Asset Management Inc. purchased a new stake in Dorman Products in the third quarter worth $31,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Dorman Products by 163.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

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.