Dorman Products (NASDAQ:DORM) Raised to “Outperform” at Barrington Research

Dorman Products (NASDAQ:DORMGet Rating) was upgraded by stock analysts at Barrington Research from a “market perform” rating to an “outperform” rating in a report released on Tuesday, Zacks.com reports. Barrington Research also issued estimates for Dorman Products’ Q2 2022 earnings at $1.27 EPS, Q3 2022 earnings at $1.35 EPS, Q4 2022 earnings at $1.54 EPS, Q1 2023 earnings at $1.43 EPS, Q2 2023 earnings at $1.42 EPS, Q3 2023 earnings at $1.49 EPS and Q4 2023 earnings at $1.66 EPS.

DORM has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Dorman Products from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Tuesday. StockNews.com upgraded Dorman Products from a “hold” rating to a “buy” rating in a report on Tuesday, April 5th.

Shares of NASDAQ DORM opened at $96.65 on Tuesday. The firm’s 50-day moving average is $95.34 and its two-hundred day moving average is $102.13. The company has a market capitalization of $3.05 billion, a PE ratio of 23.46 and a beta of 0.77. Dorman Products has a 12-month low of $88.43 and a 12-month high of $122.96.

Dorman Products (NASDAQ:DORMGet Rating) last released its quarterly earnings results on Monday, April 25th. The auto parts company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.08. Dorman Products had a return on equity of 16.42% and a net margin of 9.78%. The company had revenue of $401.60 million during the quarter, compared to the consensus estimate of $371.84 million. During the same quarter last year, the business posted $1.04 earnings per share. Dorman Products’s revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that Dorman Products will post 5.49 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC acquired a new stake in Dorman Products during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new stake in Dorman Products during the 1st quarter worth $30,000. Liberty Wealth Management LLC increased its holdings in Dorman Products by 96.6% in 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 in the last quarter. First Horizon Advisors Inc. raised its position in Dorman Products by 170.6% in the fourth 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 period. Finally, UMB Bank N A MO acquired a new position in shares of Dorman Products during the fourth quarter worth about $62,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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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