Dorman Products (NASDAQ:DORM) Research Coverage Started at Barclays

Barclays assumed coverage on shares of Dorman Products (NASDAQ:DORM) in a research note released on Thursday, MarketBeat reports. The firm issued an overweight rating and a $165.00 price target on the auto parts company’s stock.

A number of other research firms have also weighed in on DORM. Freedom Broker raised shares of Dorman Products from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $154.00 to $152.00 in a research report on Wednesday, October 28th. Wells Fargo & Company dropped their target price on Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Weiss Ratings downgraded Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. Wall Street Zen raised Dorman Products from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Roth Capital reissued a “buy” rating on shares of Dorman Products in a research note on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.17.

Dorman Products Trading Up 0.2%

DORM stock traded up $0.31 during mid-day trading on Thursday, reaching $132.31. 206,483 shares of the stock traded hands, compared to its average volume of 261,244. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.88 and a current ratio of 3.65. Dorman Products has a one year low of $98.44 and a one year high of $155.37. The stock has a market capitalization of $3.90 billion, a PE ratio of 19.69 and a beta of 0.98. The business has a 50-day moving average price of $127.04 and a two-hundred day moving average price of $124.09.

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

Hedge Funds Weigh In On Dorman Products

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in shares of Dorman Products in the 2nd quarter worth approximately $57,222,000. Jupiter Topco LLC bought a new position in shares of Dorman Products during the second quarter valued at approximately $1,605,000. Legal & General Group Plc bought a new position in shares of Dorman Products during the second quarter valued at approximately $8,620,000. Reinhart Partners LLC. increased its holdings in Dorman Products by 1.8% during the third quarter. Reinhart Partners LLC. now owns 696,562 shares of the auto parts company’s stock valued at $85,399,000 after buying an additional 12,180 shares during the period. Finally, Corient Private Wealth LP purchased a new position in Dorman Products during the second quarter valued at approximately $4,651,000. 84.70% of the stock is currently owned by institutional investors.

Dorman Products Company Profile

Dorman Products, Inc. develops, sources and markets replacement parts and solutions for the automotive aftermarket. Its products serve passenger cars, light- and heavy-duty trucks, and other vehicles, and are sold under the Dorman and other brand names. The company’s offerings span vehicle systems and components, including engine and powertrain parts, steering and suspension components, brake and electrical products, body and interior parts, and hardware. Dorman also develops products intended to address repair needs that may not be met by traditional replacement parts.