Dorman Products (NASDAQ:DORM) Stock Gets Price Target Cut from Wells Fargo & Company

Dorman Products (NASDAQ:DORM) had its target price lowered by Wells Fargo & Company from $160.00 to $150.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the auto parts company’s stock.

Several other research analysts have also commented on DORM. Freedom Capital lowered Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Roth Capital reaffirmed a “buy” rating on shares of Dorman Products in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised Dorman Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Dorman Products Stock Performance

Shares of NASDAQ:DORM opened at $125.24 on Friday. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02. Dorman Products has a 52 week low of $98.44 and a 52 week high of $164.00. The company has a quick ratio of 1.73, a current ratio of 3.60 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $125.94 and a 200 day moving average of $125.96.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, August 3rd. The auto parts company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $1.19. The company had revenue of $544.60 million during the quarter, compared to analyst estimates of $582.24 million. Dorman Products had a return on equity of 19.37% and a net margin of 10.18%. Dorman Products’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. Dorman Products has set its FY 2026 guidance at 8.500-8.800 EPS. On average, sell-side analysts predict that Dorman Products will post 8.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dorman Products news, CAO Gregory Bowen sold 3,531 shares of Dorman Products stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total value of $512,030.31. Following the transaction, the chief accounting officer directly owned 5,340 shares of the company’s stock, valued at approximately $774,353.40. The trade was a 39.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorman Products

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Dorman Products in the 2nd quarter worth $556,542,000. Dimensional Fund Advisors LP grew its stake in Dorman Products by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,352 shares of the auto parts company’s stock worth $114,725,000 after buying an additional 51,653 shares during the last quarter. Reinhart Partners LLC. acquired a new position in Dorman Products during the 2nd quarter valued at about $93,386,000. Jennison Associates LLC increased its position in Dorman Products by 1.5% during the 1st quarter. Jennison Associates LLC now owns 826,285 shares of the auto parts company’s stock valued at $86,231,000 after buying an additional 12,504 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in Dorman Products during the 2nd quarter valued at about $57,222,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.