Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 27.9%

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 471,200 shares, an increase of 27.9% from the January 15th total of 368,500 shares. Based on an average trading volume of 184,300 shares, the short-interest ratio is currently 2.6 days. Approximately 1.8% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, SVP Eric Luftig sold 3,278 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $141.19, for a total value of $462,820.82. Following the transaction, the senior vice president now directly owns 5,934 shares in the company, valued at $837,821.46. This trade represents a 35.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Mcknight sold 8,185 shares of Dorman Products stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $139.34, for a total transaction of $1,140,497.90. Following the completion of the sale, the insider now directly owns 8,902 shares of the company’s stock, valued at approximately $1,240,404.68. The trade was a 47.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,811 shares of company stock worth $7,082,504. Corporate insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Dorman Products

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Dorman Products by 518.4% in the fourth quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 197 shares in the last quarter. Quent Capital LLC purchased a new position in Dorman Products in the fourth quarter worth $31,000. Westside Investment Management Inc. bought a new position in Dorman Products in the 3rd quarter valued at $29,000. Advisors Asset Management Inc. purchased a new stake in shares of Dorman Products during the 3rd quarter valued at $31,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Dorman Products by 163.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

DORM has been the topic of several recent research reports. Roth Mkm reaffirmed a “buy” rating and issued a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. StockNews.com lowered Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $125.67.

Dorman Products Stock Up 0.7 %

Shares of DORM stock traded up $0.92 on Friday, hitting $126.67. The stock had a trading volume of 81,304 shares, compared to its average volume of 189,875. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. The business has a 50 day moving average of $130.52 and a 200 day moving average of $122.86. Dorman Products has a 12-month low of $80.28 and a 12-month high of $146.60. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 21.18 and a beta of 0.88.

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.