Dorman Products (NASDAQ:DORM) Upgraded at StockNews.com

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

Dorman Products Stock Up 1.2%

Dorman Products stock opened at $132.03 on Friday. The firm has a 50 day simple moving average of $119.67 and a 200 day simple moving average of $127.59. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. Dorman Products has a 1-year low of $87.05 and a 1-year high of $146.60. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 22.08 and a beta of 0.86.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Monday, May 5th. The auto parts company reported $2.02 earnings per share for the quarter, beating 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 company had revenue of $507.69 million during the quarter, compared to analysts’ expectations of $483.09 million. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Dorman Products will post 6.9 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Donna M. Long sold 742 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total transaction of $96,741.96. Following the completion of the transaction, the senior vice president now directly owns 19,894 shares in the company, valued at $2,593,779.72. The trade was a 3.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dorman Products

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in Dorman Products by 518.4% in the 4th quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 197 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Dorman Products during the fourth quarter worth about $31,000. CIBC Private Wealth Group LLC increased its position in shares of Dorman Products by 163.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 172 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Dorman Products in the fourth quarter worth approximately $42,000. Finally, Blue Trust Inc. raised its stake in Dorman Products by 1,581.0% in the fourth quarter. Blue Trust Inc. now owns 353 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.