Dorman Products (NASDAQ:DORM) Reaches New 52-Week High at $115.00

Dorman Products, Inc. (NASDAQ:DORM)’s share price reached a new 52-week high on Friday . The company traded as high as $115.00 and last traded at $114.71, with a volume of 15630 shares changing hands. The stock had previously closed at $111.79.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DORM. Roth Mkm restated a “buy” rating and set a $116.00 price target on shares of Dorman Products in a research report on Friday, June 14th. CJS Securities began coverage on shares of Dorman Products in a research report on Friday. They set an “outperform” rating and a $134.00 price target for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $113.33.

Dorman Products Price Performance

The business’s 50-day moving average price is $103.83 and its 200 day moving average price is $95.90. The stock has a market capitalization of $3.50 billion, a PE ratio of 22.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.19 and a current ratio of 2.40.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.48. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The company had revenue of $502.95 million during the quarter, compared to analyst estimates of $497.46 million. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Dorman Products, Inc. will post 6.15 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total value of $138,572.00. Following the completion of the transaction, the senior vice president now directly owns 25,071 shares in the company, valued at $2,481,527.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 4,200 shares of company stock worth $445,116. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in Dorman Products by 277.4% in the fourth quarter. Parallel Advisors LLC now owns 317 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 233 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in Dorman Products in the first quarter worth $34,000. Quest Partners LLC bought a new stake in Dorman Products in the fourth quarter worth $37,000. Mather Group LLC. bought a new stake in Dorman Products in the first quarter worth $48,000. Finally, Rothschild Investment LLC bought a new stake in Dorman Products in the second quarter worth $66,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

About Dorman Products

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.