Dorman Products (NASDAQ:DORM) Downgraded by StockNews.com to “Buy”

StockNews.com downgraded shares of Dorman Products (NASDAQ:DORM) from a strong-buy rating to a buy rating in a report published on Friday morning.

Dorman Products Stock Up 1.8 %

Shares of Dorman Products stock opened at $127.59 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.90 billion, a P/E ratio of 21.34 and a beta of 0.84. Dorman Products has a fifty-two week low of $86.61 and a fifty-two week high of $146.60. The business has a 50-day moving average price of $128.08 and a 200 day moving average price of $125.45.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.21. The firm had revenue of $533.77 million during the quarter, compared to analyst estimates of $523.95 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. On average, sell-side analysts forecast that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insider Activity at Dorman Products

In related news, Director Steven L. Berman sold 285 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $123.50, for a total value of $35,197.50. Following the completion of the sale, the director now directly owns 833,527 shares of the company’s stock, valued at $102,940,584.50. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donna M. Long sold 742 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total value of $96,741.96. Following the transaction, the senior vice president now directly owns 19,894 shares of the company’s stock, valued at $2,593,779.72. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,090 shares of company stock valued at $5,575,927 over the last three months. 10.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorman Products

Institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC bought a new position in shares of Dorman Products during the fourth quarter valued at approximately $287,000. Intech Investment Management LLC bought a new position in shares of Dorman Products during the third quarter valued at approximately $2,014,000. Empowered Funds LLC acquired a new position in shares of Dorman Products during the fourth quarter worth approximately $387,000. HighTower Advisors LLC boosted its position in shares of Dorman Products by 431.9% during the third quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company’s stock worth $1,563,000 after buying an additional 11,246 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Dorman Products by 41.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company’s stock worth $1,548,000 after buying an additional 3,993 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.