Dorman Products Inc. (DORM) Hits New 1-Year High at $65.20
Dorman Products Inc. (NASDAQ:DORM) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $65.20 and last traded at $64.87, with a volume of 82,529 shares. The stock had previously closed at $63.88.
A number of research analysts have commented on the company. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, June 28th. Jefferies Group increased their target price on Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. Finally, B. Riley reaffirmed a “neutral” rating and set a $49.50 target price on shares of Dorman Products in a report on Monday, August 1st. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $60.63.
The company has a market cap of $2.24 billion, a price-to-earnings ratio of 23.16 and a beta of 0.69. The stock has a 50 day moving average of $62.82 and a 200 day moving average of $56.52.
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Dorman Products (NASDAQ:DORM) last posted its earnings results on Tuesday, July 26th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Dorman Products had a return on equity of 18.83% and a net margin of 11.82%. The company had revenue of $209.60 million for the quarter, compared to analyst estimates of $214.11 million. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Dorman Products Inc. will post $2.99 earnings per share for the current year.
In other news, Director Paul R. Lederer sold 500 shares of Dorman Products stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $62.55, for a total value of $31,275.00. Following the transaction, the director now directly owns 34,549 shares in the company, valued at $2,161,039.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffery Darby sold 490 shares of Dorman Products stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $64.00, for a total value of $31,360.00. Following the completion of the transaction, the senior vice president now owns 11,990 shares in the company, valued at $767,360. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC acquired a new position in Dorman Products during the second quarter worth approximately $337,000. Personal Capital Advisors Corp raised its position in Dorman Products by 12.3% in the second quarter. Personal Capital Advisors Corp now owns 215,345 shares of the company’s stock worth $12,318,000 after buying an additional 23,556 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Dorman Products by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 120,975 shares of the company’s stock worth $6,920,000 after buying an additional 2,919 shares during the last quarter. Fiera Capital Corp raised its position in Dorman Products by 4.7% in the second quarter. Fiera Capital Corp now owns 67,502 shares of the company’s stock worth $3,861,000 after buying an additional 3,000 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Dorman Products by 1.3% in the second quarter. Arizona State Retirement System now owns 15,633 shares of the company’s stock worth $894,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.
Dorman Products Company Profile
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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