Dorman Products, Inc. (NASDAQ:DORM) Given Average Recommendation of “Buy” by Brokerages

Dorman Products, Inc. (NASDAQ:DORM) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $180.50.

Several brokerages recently weighed in on DORM. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorman Products in a report on Monday, December 29th. Stephens initiated coverage on Dorman Products in a research report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price target on the stock. Wall Street Zen cut Dorman Products from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Zacks Research lowered shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th.

Dorman Products Stock Down 0.7%

NASDAQ DORM opened at $124.29 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.94 and a debt-to-equity ratio of 0.28. Dorman Products has a fifty-two week low of $106.95 and a fifty-two week high of $166.89. The business has a 50 day moving average price of $127.08 and a two-hundred day moving average price of $138.23. The stock has a market cap of $3.80 billion, a PE ratio of 15.48 and a beta of 0.91.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Monday, October 27th. The auto parts company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.31. The business had revenue of $543.74 million for the quarter, compared to analyst estimates of $548.60 million. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. As a group, sell-side analysts predict that Dorman Products will post 6.9 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its holdings in Dorman Products by 34.8% in the second quarter. Hillsdale Investment Management Inc. now owns 44,960 shares of the auto parts company’s stock valued at $5,515,000 after buying an additional 11,600 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Dorman Products in the 2nd quarter valued at about $1,423,000. Assenagon Asset Management S.A. lifted its stake in shares of Dorman Products by 130.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 23,036 shares of the auto parts company’s stock valued at $3,591,000 after purchasing an additional 13,025 shares during the period. Equitable Trust Co. boosted its position in shares of Dorman Products by 60.1% during the 2nd quarter. Equitable Trust Co. now owns 7,390 shares of the auto parts company’s stock valued at $907,000 after purchasing an additional 2,773 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Dorman Products during the second quarter worth approximately $321,000. 84.70% of the stock is owned by institutional investors and hedge funds.

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.