Dorman Products (NASDAQ:DORM) Stock Picked Up by Analysts at Barclays

Equities researchers at Barclays started coverage on shares of Dorman Products (NASDAQ:DORM) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $165.00 price target on the auto parts company’s stock. Barclays‘s target price would suggest a potential upside of 22.63% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Freedom Capital cut Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Freedom Broker raised shares of Dorman Products from a “hold” rating to a “buy” rating and cut their target price for the company from $154.00 to $152.00 in a research note on Wednesday, October 28th. Weiss Ratings lowered shares of Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. Wells Fargo & Company decreased their price target on shares of Dorman Products from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Finally, Roth Capital reiterated a “buy” rating on shares of Dorman Products in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.17.

Dorman Products Price Performance

Shares of NASDAQ:DORM opened at $134.55 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.88 and a current ratio of 3.65. The business’s fifty day moving average price is $126.92 and its two-hundred day moving average price is $124.01. The stock has a market cap of $3.97 billion, a PE ratio of 20.02 and a beta of 0.98. Dorman Products has a one year low of $98.44 and a one year high of $155.37.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Monday, October 26th. The auto parts company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. Dorman Products had a return on equity of 17.87% and a net margin of 9.30%. The company had revenue of $561.72 million during the quarter, compared to analysts’ expectations of $565.33 million. During the same period in the previous year, the firm posted $2.62 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Dorman Products will post 8.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DORM. Public Sector Pension Investment Board boosted its position in shares of Dorman Products by 94.6% in the third quarter. Public Sector Pension Investment Board now owns 181,870 shares of the auto parts company’s stock worth $22,459,000 after acquiring an additional 88,432 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Dorman Products in the third quarter valued at approximately $2,268,000. HighTower Advisors LLC increased its position in Dorman Products by 12.7% during the third quarter. HighTower Advisors LLC now owns 2,087 shares of the auto parts company’s stock worth $256,000 after purchasing an additional 236 shares during the last quarter. Allworth Financial LP increased its position in Dorman Products by 79.4% during the third quarter. Allworth Financial LP now owns 323 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 143 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in Dorman Products by 52.8% during the third quarter. Maryland State Retirement & Pension System now owns 6,052 shares of the auto parts company’s stock worth $742,000 after purchasing an additional 2,090 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc. develops, sources and markets replacement parts and solutions for the automotive aftermarket. Its products serve passenger cars, light- and heavy-duty trucks, and other vehicles, and are sold under the Dorman and other brand names. The company’s offerings span vehicle systems and components, including engine and powertrain parts, steering and suspension components, brake and electrical products, body and interior parts, and hardware. Dorman also develops products intended to address repair needs that may not be met by traditional replacement parts.