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

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

Analysts Set New Price Targets

Several research analysts have commented on DORM shares. Roth Mkm reiterated a “buy” rating and set a $116.00 price target on shares of Dorman Products in a report on Friday, June 14th. CJS Securities initiated coverage on shares of Dorman Products in a research note on Friday. They set an “outperform” rating and a $134.00 target price for the company. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $113.33.

Dorman Products Stock Performance

The firm has a 50 day moving average of $104.35 and a two-hundred day moving average of $96.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.40 and a quick ratio of 1.19. The stock has a market cap of $3.52 billion, a PE ratio of 23.19 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Thursday, August 1st. The auto parts company reported $1.67 earnings per share 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 business had revenue of $502.95 million during the quarter, compared to the consensus estimate of $497.46 million. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Dorman Products, Inc. will post 6.15 EPS for the current fiscal year.

Insider Activity at Dorman Products

In other news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total transaction of $146,972.00. Following the sale, the senior vice president now owns 23,671 shares in the company, valued at $2,484,981.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,200 shares of company stock valued at $445,116 over the last ninety days. 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 business. Parallel Advisors LLC boosted its stake in Dorman Products by 277.4% during the 4th 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 period. YHB Investment Advisors Inc. acquired a new stake in shares of Dorman Products during the first quarter worth about $34,000. Quest Partners LLC acquired a new stake in shares of Dorman Products during the fourth quarter worth about $37,000. Mather Group LLC. purchased a new position in shares of Dorman Products during the first quarter worth about $48,000. Finally, Rothschild Investment LLC acquired a new position in Dorman Products in the 2nd quarter valued at about $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.