Dorman Products (NASDAQ:DORM) Downgraded by Wall Street Zen to “Hold”

Dorman Products (NASDAQ:DORM) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other analysts have also issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Dorman Products in a report on Monday, December 29th. Zacks Research cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Stephens assumed coverage on shares of Dorman Products in a research report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Dorman Products presently has an average rating of “Buy” and a consensus target price of $180.50.

Dorman Products Price Performance

Shares of NASDAQ DORM traded down $1.48 during mid-day trading on Friday, reaching $124.05. 164,037 shares of the company traded hands, compared to its average volume of 153,242. Dorman Products has a fifty-two week low of $106.95 and a fifty-two week high of $166.89. The firm has a market cap of $3.79 billion, a PE ratio of 15.45 and a beta of 0.91. The stock has a fifty day simple moving average of $127.25 and a 200-day simple moving average of $138.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.94 and a quick ratio of 1.19.

Dorman Products (NASDAQ:DORM) last released its earnings results on Monday, October 27th. The auto parts company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.31. The firm had revenue of $543.74 million during the quarter, compared to the consensus estimate of $548.60 million. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Equities research analysts anticipate that Dorman Products will post 6.9 EPS for the current fiscal year.

Insider Transactions at Dorman Products

In other Dorman Products news, insider John Mcknight sold 2,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $128.80, for a total transaction of $257,600.00. Following the completion of the sale, the insider directly owned 9,112 shares of the company’s stock, valued at approximately $1,173,625.60. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donna M. Long sold 812 shares of Dorman Products stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $123.75, for a total transaction of $100,485.00. Following the completion of the transaction, the senior vice president directly owned 17,856 shares in the company, valued at approximately $2,209,680. This trade represents a 4.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dorman Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Dorman Products in the second quarter valued at $40,449,000. Clark Capital Management Group Inc. raised its position in Dorman Products by 299.6% during the third quarter. Clark Capital Management Group Inc. now owns 316,961 shares of the auto parts company’s stock valued at $49,408,000 after buying an additional 237,639 shares during the period. Jennison Associates LLC lifted its stake in Dorman Products by 24.3% in the 2nd quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock worth $91,316,000 after acquiring an additional 145,758 shares in the last quarter. Tributary Capital Management LLC lifted its stake in Dorman Products by 90.5% in the 3rd quarter. Tributary Capital Management LLC now owns 234,388 shares of the auto parts company’s stock worth $36,536,000 after acquiring an additional 111,380 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Dorman Products by 24,717.5% during the 2nd quarter. Bessemer Group Inc. now owns 109,445 shares of the auto parts company’s stock worth $13,425,000 after acquiring an additional 109,004 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Company Profile

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.