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

Dorman Products (NASDAQ:DORM) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the company. BMO Capital Markets began coverage on Dorman Products in a research note on Thursday, September 18th. They issued an “outperform” rating and a $180.00 price objective on the stock. Stephens initiated coverage on Dorman Products in a report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price target for the company. Zacks Research upgraded shares of Dorman Products from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 13th. Wells Fargo & Company initiated coverage on shares of Dorman Products in a research report on Friday, August 22nd. They issued an “overweight” rating and a $175.00 price objective for the company. Finally, Roth Capital boosted their target price on shares of Dorman Products to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, Dorman Products presently has a consensus rating of “Buy” and an average price target of $175.00.

Dorman Products Price Performance

Shares of Dorman Products stock opened at $143.05 on Friday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 19.46 and a beta of 0.84. The firm’s 50-day moving average price is $154.70 and its two-hundred day moving average price is $133.76. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. Dorman Products has a 1-year low of $106.95 and a 1-year high of $166.89.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, August 4th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.30. The company had revenue of $540.96 million during the quarter, compared to analysts’ expectations of $517.13 million. Dorman Products had a net margin of 10.83% and a return on equity of 19.23%. Dorman Products’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, equities analysts predict that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insider Transactions at Dorman Products

In other Dorman Products news, SVP Donna M. Long sold 820 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $122.21, for a total transaction of $100,212.20. Following the completion of the sale, the senior vice president directly owned 19,074 shares of the company’s stock, valued at approximately $2,331,033.54. The trade was a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Gregory C. Bowen sold 1,453 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $162.81, for a total transaction of $236,562.93. Following the transaction, the chief accounting officer owned 4,659 shares in the company, valued at approximately $758,531.79. The trade was a 23.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorman Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of Dorman Products by 6.7% in the 2nd quarter. Invesco Ltd. now owns 812,031 shares of the auto parts company’s stock valued at $99,612,000 after purchasing an additional 51,257 shares during the period. Jennison Associates LLC increased its holdings in Dorman Products by 24.3% in the second quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock valued at $91,316,000 after purchasing an additional 145,758 shares during the last quarter. Geode Capital Management LLC lifted its stake in Dorman Products by 3.9% in the second quarter. Geode Capital Management LLC now owns 677,100 shares of the auto parts company’s stock valued at $83,070,000 after buying an additional 25,286 shares during the period. GW&K Investment Management LLC boosted its holdings in Dorman Products by 0.7% during the first quarter. GW&K Investment Management LLC now owns 601,363 shares of the auto parts company’s stock worth $72,489,000 after buying an additional 4,363 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Dorman Products by 192.9% during the 1st quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock worth $61,691,000 after buying an additional 337,074 shares during the period. 84.70% of the stock is owned by institutional investors.

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.