Barclays Begins Coverage on Dorman Products (NASDAQ:DORM)

Equities research analysts 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 points to a potential upside of 22.63% from the company’s previous close.

Several other brokerages have also recently commented on DORM. Roth Capital reiterated a “buy” rating on shares of Dorman Products in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Freedom Capital lowered shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company dropped their target price on shares of Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of Dorman Products from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.17.

Dorman Products Trading Down 0.9%

NASDAQ:DORM opened at $134.55 on Thursday. Dorman Products has a 1 year low of $98.44 and a 1 year high of $155.37. 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 stock has a fifty day moving average price of $126.92 and a two-hundred day moving average price of $124.01. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 20.02 and a beta of 0.98.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Monday, October 26th. The auto parts company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.00 by $0.08. Dorman Products had a net margin of 9.30% and a return on equity of 17.87%. The company had revenue of $561.72 million for the quarter, compared to analyst estimates of $565.33 million. During the same period in the previous year, the firm earned $2.62 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Dorman Products will post 8.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in shares of Dorman Products by 94.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 181,870 shares of the auto parts company’s stock worth $22,459,000 after buying an additional 88,432 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Dorman Products during the 3rd quarter valued at about $2,268,000. HighTower Advisors LLC raised 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 acquiring an additional 236 shares during the last quarter. Allworth Financial LP raised 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 acquiring an additional 143 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised 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 acquiring an additional 2,090 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

About Dorman Products

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.