StockNews.com Upgrades Dorman Products (NASDAQ:DORM) to Strong-Buy

StockNews.com upgraded shares of Dorman Products (NASDAQ:DORM) from a buy rating to a strong-buy rating in a research note released on Monday morning.

Dorman Products Price Performance

Dorman Products stock opened at $114.95 on Monday. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 19.22 and a beta of 0.87. 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 business has a 50-day simple moving average of $119.94 and a 200 day simple moving average of $126.80. Dorman Products has a 52 week low of $87.05 and a 52 week high of $146.60.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Monday, May 5th. The auto parts company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.48 by $0.54. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. On average, research analysts forecast that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dorman Products news, SVP Donna M. Long sold 742 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $130.38, for a total transaction of $96,741.96. Following the sale, the senior vice president now owns 19,894 shares in the company, valued at $2,593,779.72. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorman Products

Several institutional investors have recently modified their holdings of DORM. Flagship Harbor Advisors LLC bought a new position in Dorman Products during the fourth quarter valued at approximately $287,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Dorman Products by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,717 shares of the auto parts company’s stock valued at $45,954,000 after purchasing an additional 4,102 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Dorman Products during the 4th quarter valued at $387,000. Thrivent Financial for Lutherans lifted its stake in Dorman Products by 21.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,242 shares of the auto parts company’s stock worth $4,047,000 after purchasing an additional 5,441 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Dorman Products by 216.6% during the fourth quarter. LPL Financial LLC now owns 19,715 shares of the auto parts company’s stock valued at $2,555,000 after buying an additional 13,487 shares during the period. 84.70% of the stock is currently 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.