Dorman Products (NASDAQ:DORM) Hits New 52-Week High on Earnings Beat

Dorman Products, Inc. (NASDAQ:DORM)’s stock price reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $129.00 and last traded at $125.11, with a volume of 30956 shares. The stock had previously closed at $114.03.

The auto parts company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.42. The company had revenue of $503.77 million for the quarter, compared to analyst estimates of $509.54 million. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. Dorman Products’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 EPS.

Analyst Ratings Changes

Separately, CJS Securities assumed coverage on shares of Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 target price on the stock. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $113.33.

Insider Activity

In related news, SVP Jeffery Darby sold 2,400 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $118.98, for a total transaction of $285,552.00. Following the sale, the senior vice president now directly owns 19,871 shares in the company, valued at $2,364,251.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Steven L. Berman sold 16,071 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.55, for a total value of $1,873,075.05. Following the completion of the transaction, the director now owns 888,656 shares in the company, valued at $103,572,856.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeffery Darby sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $118.98, for a total value of $285,552.00. Following the completion of the transaction, the senior vice president now owns 19,871 shares in the company, valued at approximately $2,364,251.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,297 shares of company stock worth $6,163,491. Insiders own 10.00% of the company’s stock.

Institutional Trading of Dorman Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of Dorman Products by 5,460.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after buying an additional 273 shares during the period. Quest Partners LLC acquired a new stake in Dorman Products during the 2nd quarter worth $37,000. GAMMA Investing LLC raised its position in shares of Dorman Products by 63.2% during the 3rd quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 187 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Dorman Products in the 3rd quarter valued at $58,000. Finally, Rothschild Investment LLC bought a new position in shares of Dorman Products in the 2nd quarter worth $66,000. 84.70% of the stock is owned by institutional investors.

Dorman Products Trading Up 12.1 %

The business has a 50 day moving average of $113.26 and a 200 day moving average of $101.06. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 23.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.40 and a quick ratio of 1.19.

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.