Dorman Products (NASDAQ:DORM) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Dorman Products (NASDAQ:DORM) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

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

Dorman Products Trading Up 1.8%

Shares of NASDAQ:DORM opened at $136.01 on Friday. Dorman Products has a 12 month low of $98.44 and a 12 month high of $155.37. The company has a quick ratio of 1.73, a current ratio of 3.65 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $125.64 and its 200 day simple moving average is $123.55. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 20.24 and a beta of 1.02.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, October 26th. The auto parts company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.00 by $0.08. The business had revenue of $561.72 million for the quarter, compared to analysts’ expectations of $565.33 million. Dorman Products had a net margin of 9.30% and a return on equity of 17.87%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.62 EPS. As a group, research analysts forecast that Dorman Products will post 8.61 EPS for the current fiscal year.

Insider Transactions at Dorman Products

In other Dorman Products news, CAO Gregory Bowen sold 3,531 shares of the business’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 of the company’s stock, valued at $774,353.40. The trade was a 39.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Dorman Products

Several hedge funds have recently modified their holdings of DORM. Allworth Financial LP acquired a new position in Dorman Products during the second quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Dorman Products in the second quarter valued at $26,000. Public Employees Retirement System of Ohio acquired a new stake in Dorman Products in the second quarter valued at $47,000. Versant Capital Management Inc lifted its stake in Dorman Products by 301.5% in the third quarter. Versant Capital Management Inc now owns 542 shares of the auto parts company’s stock valued at $66,000 after acquiring an additional 407 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in 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 during the last quarter. Institutional investors own 84.70% of the company’s stock.

About Dorman Products

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.