Dorman Products (NASDAQ:DORM) Cut to Buy at StockNews.com

StockNews.com lowered shares of Dorman Products (NASDAQ:DORM) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Dorman Products Price Performance

Shares of DORM stock opened at $111.31 on Friday. Dorman Products has a twelve month low of $86.77 and a twelve month high of $146.60. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 18.61 and a beta of 0.87. The stock has a fifty day simple moving average of $120.99 and a two-hundred day simple moving average of $126.91. 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 (NASDAQ:DORM) last issued its earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.21. The business had revenue of $533.77 million during the quarter, compared to analysts’ expectations of $523.95 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. On average, analysts predict that Dorman Products will post 6.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Donna M. Long sold 742 shares of the company’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 transaction, the senior vice president now directly owns 19,894 shares of the company’s stock, valued at $2,593,779.72. This represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven L. Berman sold 8,524 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $131.79, for a total value of $1,123,377.96. Following the transaction, the director now directly owns 773,094 shares in the company, valued at $101,886,058.26. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in Dorman Products by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company’s stock worth $247,000 after acquiring an additional 79 shares during the period. HighPoint Advisor Group LLC boosted its stake in Dorman Products by 3.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,438 shares of the auto parts company’s stock worth $308,000 after purchasing an additional 83 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Dorman Products by 1.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,763 shares of the auto parts company’s stock worth $617,000 after purchasing an additional 84 shares during the last quarter. Pitcairn Co. boosted its stake in Dorman Products by 2.0% during the 4th quarter. Pitcairn Co. now owns 4,490 shares of the auto parts company’s stock worth $582,000 after purchasing an additional 86 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Dorman Products by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company’s stock worth $350,000 after purchasing an additional 87 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

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.