Wall Street Zen Downgrades Dorman Products (NASDAQ:DORM) to Buy

Dorman Products (NASDAQ:DORM) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Dorman Products Trading Up 3.6%

DORM opened at $139.57 on Friday. Dorman Products has a fifty-two week low of $103.08 and a fifty-two week high of $146.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.74 and a quick ratio of 1.22. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 18.99 and a beta of 0.79. The company’s 50 day moving average price is $125.04 and its two-hundred day moving average price is $124.21.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, August 4th. The auto parts company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.30. Dorman Products had a net margin of 10.83% and a return on equity of 19.23%. The firm had revenue of $540.96 million for the quarter, compared to analyst estimates of $517.13 million. During the same period in the previous year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Dorman Products will post 6.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Donna M. Long sold 820 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $122.21, for a total value of $100,212.20. Following the sale, the senior vice president directly owned 19,074 shares of the company’s stock, valued at approximately $2,331,033.54. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John J. Gavin sold 2,900 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $131.19, for a total transaction of $380,451.00. Following the completion of the sale, the director directly owned 8,132 shares in the company, valued at approximately $1,066,837.08. This represents a 26.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in Dorman Products by 22.1% during the first quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company’s stock worth $91,704,000 after acquiring an additional 137,913 shares in the last quarter. Jennison Associates LLC boosted its stake in Dorman Products by 24.3% during the second quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock worth $91,316,000 after acquiring an additional 145,758 shares in the last quarter. Geode Capital Management LLC boosted its stake in Dorman Products by 3.9% during the second quarter. Geode Capital Management LLC now owns 677,100 shares of the auto parts company’s stock worth $83,070,000 after acquiring an additional 25,286 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Dorman Products by 0.7% during the first quarter. GW&K Investment Management LLC now owns 601,363 shares of the auto parts company’s stock worth $72,489,000 after acquiring an additional 4,363 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Dorman Products by 192.9% during the first quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock worth $61,691,000 after buying an additional 337,074 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

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.