Dorman Products, Inc. (NASDAQ:DORM) Short Interest Up 43.0% in December

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 631,300 shares, an increase of 43.0% from the November 30th total of 441,500 shares. Based on an average daily volume of 167,400 shares, the short-interest ratio is currently 3.8 days. Approximately 2.4% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, SVP Jeffery Darby sold 2,400 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $124.98, for a total transaction of $299,952.00. Following the transaction, the senior vice president now owns 17,471 shares of the company’s stock, valued at $2,183,525.58. This represents a 12.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven L. Berman sold 2,669 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $112.57, for a total value of $300,449.33. Following the transaction, the director now owns 876,156 shares of the company’s stock, valued at $98,628,880.92. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,593 shares of company stock valued at $4,907,310. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Dorman Products

A number of large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Dorman Products during the third quarter worth about $2,014,000. HighTower Advisors LLC lifted its holdings in Dorman Products by 431.9% in the 3rd quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company’s stock worth $1,563,000 after buying an additional 11,246 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Dorman Products by 41.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company’s stock worth $1,548,000 after buying an additional 3,993 shares during the period. Barclays PLC grew its position in shares of Dorman Products by 380.7% in the 3rd quarter. Barclays PLC now owns 46,842 shares of the auto parts company’s stock worth $5,298,000 after buying an additional 37,098 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Dorman Products by 26.7% during the third quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company’s stock valued at $3,944,000 after buying an additional 7,349 shares during the period. Institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Roth Mkm reaffirmed a “buy” rating and issued a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a report on Monday, November 4th. 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 price objective on the stock. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $125.67.

Dorman Products Trading Down 0.6 %

NASDAQ:DORM traded down $0.79 during trading hours on Monday, reaching $131.40. The company’s stock had a trading volume of 82,609 shares, compared to its average volume of 138,473. The firm has a 50-day simple moving average of $132.53 and a 200-day simple moving average of $114.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. Dorman Products has a 1 year low of $79.20 and a 1 year high of $146.60. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 21.97 and a beta of 0.87.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.43. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The business had revenue of $503.77 million for the quarter, compared to analyst estimates of $509.54 million. During the same period last year, the company earned $1.40 EPS. Dorman Products’s revenue for the quarter was up 3.2% compared to the same quarter last year. Research analysts expect that Dorman Products will post 6.9 EPS for the current fiscal year.

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.