StockNews.com Downgrades Dorman Products (NASDAQ:DORM) to Buy

StockNews.com lowered shares of Dorman Products (NASDAQ:DORM) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Dorman Products currently has an average rating of “Buy” and a consensus price target of $125.67.

Dorman Products Stock Performance

Shares of DORM stock opened at $125.75 on Tuesday. Dorman Products has a 1-year low of $80.28 and a 1-year 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 company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 21.03 and a beta of 0.88. The stock’s fifty day simple moving average is $130.76 and its 200-day simple moving average is $122.36.

Insider Activity at Dorman Products

In other Dorman Products news, insider John Mcknight sold 8,185 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $139.34, for a total transaction of $1,140,497.90. Following the completion of the sale, the insider now directly owns 8,902 shares in the company, valued at $1,240,404.68. This represents a 47.90 % 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, Director Steven L. Berman sold 8,524 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $131.79, for a total transaction of $1,123,377.96. Following the transaction, the director now owns 773,094 shares of the company’s stock, valued at $101,886,058.26. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,811 shares of company stock valued at $7,082,504. 10.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Dorman Products in the 4th quarter valued at about $41,047,000. Fiera Capital Corp bought a new stake in Dorman Products in the 3rd quarter valued at about $25,571,000. Wellington Management Group LLP increased its position in Dorman Products by 1,136.2% in the 4th quarter. Wellington Management Group LLP now owns 174,717 shares of the auto parts company’s stock valued at $22,635,000 after buying an additional 160,584 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Dorman Products by 889.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 126,180 shares of the auto parts company’s stock valued at $16,347,000 after buying an additional 113,424 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Dorman Products by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,028,728 shares of the auto parts company’s stock valued at $392,372,000 after buying an additional 91,361 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

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.