Dorman Products (NASDAQ:DORM) Hits New 12-Month High on Earnings Beat

Shares of Dorman Products, Inc. (NASDAQ:DORM) hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $129.00 and last traded at $125.11, with a volume of 30956 shares traded. The stock had previously closed at $114.03.

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

Analyst Upgrades and Downgrades

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

Insider Activity at Dorman Products

In other news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total value of $146,972.00. Following the completion of the sale, the senior vice president now directly owns 23,671 shares in the company, valued at $2,484,981.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total transaction of $146,972.00. Following the completion of the sale, the senior vice president now directly owns 23,671 shares of the company’s stock, valued at approximately $2,484,981.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven L. Berman sold 27,632 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the transaction, the director now directly owns 936,024 shares in the company, valued at $108,316,697.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,297 shares of company stock worth $6,163,491 in the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Dorman Products by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock valued at $292,282,000 after purchasing an additional 41,849 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Dorman Products by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,029,044 shares of the auto parts company’s stock worth $94,136,000 after acquiring an additional 24,811 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Dorman Products by 73.1% during the first quarter. Jennison Associates LLC now owns 283,387 shares of the auto parts company’s stock valued at $27,316,000 after buying an additional 119,707 shares during the last quarter. Summit Creek Advisors LLC lifted its position in Dorman Products by 0.6% in the first quarter. Summit Creek Advisors LLC now owns 227,303 shares of the auto parts company’s stock valued at $21,910,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in Dorman Products during the 3rd quarter valued at $25,571,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Up 12.1 %

The company has a quick ratio of 1.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $3.91 billion, a PE ratio of 23.40 and a beta of 0.82. The stock’s fifty day moving average price is $113.26 and its two-hundred day moving average price is $101.06.

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.