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

Dorman Products, Inc. (NASDAQ:DORM) has been given an average recommendation of “Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $180.50.

A number of equities analysts have commented on the company. Zacks Research downgraded Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. BMO Capital Markets began coverage on Dorman Products in a research note on Thursday, September 18th. They set an “outperform” rating and a $180.00 price objective for the company. Wall Street Zen cut Dorman Products from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorman Products in a report on Monday, December 29th. Finally, Stephens started coverage on shares of Dorman Products in a report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price objective on the stock.

Dorman Products Stock Up 0.7%

DORM stock opened at $124.10 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.94 and a quick ratio of 1.19. Dorman Products has a 1-year low of $106.95 and a 1-year high of $166.89. The firm has a fifty day moving average price of $129.92 and a two-hundred day moving average price of $138.06. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 15.45 and a beta of 0.91.

Dorman Products (NASDAQ:DORM) last posted its quarterly 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. Dorman Products had a net margin of 11.62% and a return on equity of 19.85%. The company had revenue of $543.74 million for the quarter, compared to the consensus estimate of $548.60 million. During the same period last year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Research analysts predict that Dorman Products will post 6.9 EPS for the current year.

Insider Activity at Dorman Products

In other news, insider John Mcknight sold 2,000 shares of Dorman Products stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $128.80, for a total transaction of $257,600.00. Following the sale, the insider owned 9,112 shares of the company’s stock, valued at approximately $1,173,625.60. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Trading of Dorman Products

Several large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its position in Dorman Products by 101.2% during the 3rd quarter. Private Trust Co. NA now owns 165 shares of the auto parts company’s stock worth $26,000 after acquiring an additional 83 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Dorman Products in the third quarter worth about $27,000. Salomon & Ludwin LLC bought a new position in Dorman Products in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in Dorman Products by 594.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock valued at $29,000 after buying an additional 202 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its stake in Dorman Products by 134.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 244 shares of the auto parts company’s stock valued at $38,000 after buying an additional 140 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

About Dorman Products

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.