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 published on Friday.

Separately, Roth Mkm reaffirmed a “buy” rating and set a $153.00 price objective (up from $126.00) on shares of Dorman Products in a research report on Monday, November 4th.

Dorman Products Trading Up 2.7 %

Shares of NASDAQ DORM opened at $131.46 on Friday. The firm’s 50 day moving average price is $128.60 and its 200-day moving average price is $123.95. Dorman Products has a 52-week low of $86.61 and a 52-week high of $146.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The company has a market cap of $4.01 billion, a PE ratio of 21.98 and a beta of 0.88.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.21. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The business had revenue of $533.77 million for the quarter, compared to analysts’ expectations of $523.95 million. On average, equities research analysts expect that Dorman Products will post 6.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John Mcknight sold 8,185 shares of Dorman Products stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $139.34, for a total value of $1,140,497.90. Following the completion of the sale, the insider now owns 8,902 shares of the company’s stock, valued at $1,240,404.68. The trade was a 47.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven L. Berman sold 8,485 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $136.83, for a total value of $1,161,002.55. Following the sale, the director now owns 867,671 shares of the company’s stock, valued at approximately $118,723,422.93. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,533 shares of company stock worth $6,619,683. 10.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorman Products

A number of institutional investors and hedge funds have recently made changes to their positions in DORM. Fuller & Thaler Asset Management Inc. purchased a new stake in Dorman Products during the fourth quarter valued at approximately $42,495,000. Norges Bank purchased a new position in Dorman Products during the fourth quarter valued at $41,047,000. Fiera Capital Corp bought a new stake in Dorman Products during the third quarter valued at about $25,571,000. Oberweis Asset Management Inc. bought a new stake in Dorman Products during the fourth quarter valued at about $23,283,000. Finally, Wellington Management Group LLP increased its position in Dorman Products by 1,136.2% in the fourth quarter. Wellington Management Group LLP now owns 174,717 shares of the auto parts company’s stock worth $22,635,000 after buying an additional 160,584 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

About Dorman Products

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.