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 issued to investors on Monday.

Separately, Roth Mkm restated a “buy” rating and issued a $153.00 target price (up previously from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $125.67.

Dorman Products Price Performance

NASDAQ DORM opened at $131.14 on Monday. Dorman Products has a 52 week low of $79.43 and a 52 week high of $146.60. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 21.93 and a beta of 0.88. The company has a 50-day moving average price of $132.73 and a two-hundred day moving average price of $121.10.

Insider Activity

In related news, SVP Eric Luftig sold 3,278 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the completion of the sale, the senior vice president now directly owns 5,934 shares of the company’s stock, valued at $837,821.46. This represents a 35.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donna M. Long sold 3,277 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $134.79, for a total transaction of $441,706.83. Following the sale, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at approximately $2,712,783.54. This represents a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,088 shares of company stock worth $7,524,211 over the last three months. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Dorman Products

Several hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in shares of Dorman Products by 11.0% in the 4th quarter. Handelsbanken Fonder AB now owns 8,044 shares of the auto parts company’s stock valued at $1,042,000 after acquiring an additional 800 shares in the last quarter. Truist Financial Corp lifted its position in shares of Dorman Products by 1.7% in the 4th quarter. Truist Financial Corp now owns 35,405 shares of the auto parts company’s stock valued at $4,587,000 after acquiring an additional 602 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Dorman Products by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 138,082 shares of the auto parts company’s stock valued at $17,889,000 after acquiring an additional 4,247 shares in the last quarter. Csenge Advisory Group lifted its position in shares of Dorman Products by 0.5% in the 4th quarter. Csenge Advisory Group now owns 19,298 shares of the auto parts company’s stock valued at $2,500,000 after acquiring an additional 96 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in shares of Dorman Products by 77.6% in the 4th quarter. Principal Securities Inc. now owns 396 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other 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.