Dorman Products (NASDAQ:DORM) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Dorman Products (NASDAQ:DORM) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday.

DORM has been the subject of several other reports. Weiss Ratings upgraded shares of Dorman Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Dorman Products from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 13th. BMO Capital Markets began coverage on shares of Dorman Products in a research note on Thursday, September 18th. They set an “outperform” rating and a $180.00 price objective for the company. Stephens began coverage on shares of Dorman Products in a research note on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price objective for the company. Finally, Roth Capital lifted their price objective on shares of Dorman Products to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $175.00.

Dorman Products Trading Down 9.8%

NASDAQ:DORM opened at $138.73 on Friday. Dorman Products has a 12 month low of $106.95 and a 12 month high of $166.89. The firm has a fifty day simple moving average of $154.45 and a 200-day simple moving average of $135.48. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.24 billion, a P/E ratio of 17.28 and a beta of 0.84.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.31 by $0.31. Dorman Products had a net margin of 11.62% and a return on equity of 20.36%. The business had revenue of $543.74 million during the quarter, compared to the consensus estimate of $548.60 million. During the same period in the previous year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, equities research analysts anticipate that Dorman Products will post 6.9 earnings per share for the current year.

Insider Activity

In related news, CAO Gregory C. Bowen sold 1,453 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $162.81, for a total transaction of $236,562.93. Following the completion of the transaction, the chief accounting officer owned 4,659 shares of the company’s stock, valued at $758,531.79. This trade represents a 23.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its holdings in Dorman Products by 5.9% in the third quarter. TD Private Client Wealth LLC now owns 1,457 shares of the auto parts company’s stock valued at $227,000 after buying an additional 81 shares in the last quarter. Private Trust Co. NA increased its holdings in Dorman Products by 101.2% in the third quarter. Private Trust Co. NA now owns 165 shares of the auto parts company’s stock valued at $26,000 after buying an additional 83 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Dorman Products by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 9,539 shares of the auto parts company’s stock valued at $1,487,000 after buying an additional 86 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Dorman Products by 3.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,469 shares of the auto parts company’s stock valued at $298,000 after buying an additional 90 shares in the last quarter. Finally, Xponance Inc. increased its holdings in Dorman Products by 4.8% in the first quarter. Xponance Inc. now owns 1,966 shares of the auto parts company’s stock valued at $237,000 after buying an additional 90 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.