Dorman Products (NASDAQ:DORM) Upgraded by Zacks Investment Research to Buy

Dorman Products (NASDAQ:DORMGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $104.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.74% from the stock’s previous close.

According to Zacks, “Dorman Products, Inc. is a leading supplier of Dealer Exclusive replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman products are marketed under the Dorman, OE Solutions, HELP!, AutoGrade, First Stop, Conduct-Tite, TECHoice, Dorman Hybrid Drive Batteries and Dorman HD Solutions brand names. “

A number of other analysts have also issued reports on the company. Barrington Research upgraded Dorman Products from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, February 22nd. StockNews.com upgraded Dorman Products from a “hold” rating to a “buy” rating in a report on Tuesday, April 5th.

Shares of NASDAQ DORM traded down $0.64 during trading hours on Tuesday, reaching $92.25. The stock had a trading volume of 112,143 shares, compared to its average volume of 110,958. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 22.39 and a beta of 0.77. The business’s fifty day moving average price is $95.29 and its two-hundred day moving average price is $102.17. Dorman Products has a 52-week low of $88.43 and a 52-week high of $122.96.

Dorman Products (NASDAQ:DORMGet Rating) last announced its quarterly earnings results on Monday, April 25th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The firm had revenue of $401.60 million during the quarter, compared to analyst estimates of $371.84 million. Dorman Products had a return on equity of 16.42% and a net margin of 9.78%. Dorman Products’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 earnings per share. As a group, equities research analysts anticipate that Dorman Products will post 5.49 EPS for the current year.

A number of institutional investors have recently bought and sold shares of DORM. CWM LLC purchased a new stake in Dorman Products during the fourth quarter worth $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Dorman Products during the 1st quarter valued at $30,000. Liberty Wealth Management LLC lifted its holdings in shares of Dorman Products by 96.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 346 shares of the auto parts company’s stock valued at $36,000 after purchasing an additional 170 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Dorman Products by 170.6% during the 4th quarter. First Horizon Advisors Inc. now owns 525 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 331 shares during the last quarter. Finally, UMB Bank N A MO purchased a new stake in shares of Dorman Products during the 4th quarter valued at $62,000. Institutional investors own 80.84% of the company’s stock.

Dorman Products Company Profile (Get Rating)

Dorman Products, Inc supplies replacement parts and fasteners for passenger cars, light trucks, and medium- and heavy-duty trucks in the automotive aftermarket industry worldwide. It offers original equipment dealer products, such as intake and exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and oil drain plugs, and wheel bolts and lug nuts.

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