Dorman Products (DORM) Sets New 52-Week High at $78.67

Dorman Products Inc. (NASDAQ:DORM)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $78.67 and last traded at $77.96, with a volume of 1560 shares trading hands. The stock had previously closed at $78.61.

Several equities analysts recently commented on the stock. BidaskClub raised shares of Dorman Products from a “hold” rating to a “buy” rating in a research note on Tuesday. ValuEngine raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a research note on Thursday, July 12th. Finally, Zacks Investment Research raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $70.50.

The company has a market capitalization of $2.53 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.30 and a beta of 0.93.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Tuesday, July 31st. The auto parts company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. Dorman Products had a net margin of 12.42% and a return on equity of 19.13%. The business had revenue of $238.15 million during the quarter, compared to analysts’ expectations of $244.87 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. analysts anticipate that Dorman Products Inc. will post 4.19 EPS for the current year.

In other Dorman Products news, SVP Jeffery Darby sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $76.13, for a total value of $104,069.71. Following the completion of the transaction, the senior vice president now owns 12,639 shares of the company’s stock, valued at approximately $962,207.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul R. Lederer sold 3,925 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $76.60, for a total transaction of $300,655.00. The disclosure for this sale can be found here. 11.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc lifted its holdings in shares of Dorman Products by 1,500.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the auto parts company’s stock worth $112,000 after acquiring an additional 1,500 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Dorman Products in the 2nd quarter worth approximately $115,000. Zions Bancorporation bought a new stake in shares of Dorman Products in the 1st quarter worth approximately $188,000. Atria Investments LLC bought a new stake in shares of Dorman Products in the 1st quarter worth approximately $201,000. Finally, ARGI Investment Services LLC bought a new stake in shares of Dorman Products in the 1st quarter worth approximately $209,000. 76.26% of the stock is owned by institutional investors and hedge funds.

About Dorman Products (NASDAQ:DORM)

Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.

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