Dorman Products, Inc. (NASDAQ:DORM) Short Interest Update

Dorman Products, Inc. (NASDAQ:DORM) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 330,400 shares, a drop of 8.1% from the October 15th total of 359,400 shares. Based on an average daily volume of 160,500 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.3% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms recently issued reports on DORM. Roth Mkm reaffirmed a “buy” rating and set a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. CJS Securities assumed coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 price target for the company. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $125.67.

Insider Buying and Selling

In related news, SVP Jeffery Darby sold 2,400 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $118.98, for a total value of $285,552.00. Following the sale, the senior vice president now directly owns 19,871 shares in the company, valued at approximately $2,364,251.58. The trade was a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Leff sold 5,536 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $132.66, for a total value of $734,405.76. Following the transaction, the senior vice president now owns 13,336 shares of the company’s stock, valued at $1,769,153.76. This represents a 29.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,833 shares of company stock worth $7,050,877. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Dorman Products

Institutional investors and hedge funds have recently made changes to their positions in the business. Equitable Trust Co. boosted its holdings in shares of Dorman Products by 2.2% in the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company’s stock valued at $508,000 after purchasing an additional 97 shares during the period. Inspire Advisors LLC raised its holdings in shares of Dorman Products by 1.3% in the second quarter. Inspire Advisors LLC now owns 8,679 shares of the auto parts company’s stock valued at $794,000 after acquiring an additional 112 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Dorman Products by 0.8% in the first quarter. Orion Portfolio Solutions LLC now owns 13,659 shares of the auto parts company’s stock worth $1,317,000 after acquiring an additional 114 shares during the period. Creative Planning grew its holdings in Dorman Products by 3.3% during the 2nd quarter. Creative Planning now owns 4,499 shares of the auto parts company’s stock worth $412,000 after acquiring an additional 144 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Dorman Products by 28.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the auto parts company’s stock valued at $75,000 after purchasing an additional 146 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Dorman Products Trading Down 0.5 %

NASDAQ:DORM traded down $0.72 during mid-day trading on Monday, hitting $134.01. 162,270 shares of the stock traded hands, compared to its average volume of 136,740. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. Dorman Products has a 52 week low of $69.77 and a 52 week high of $146.60. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 22.41 and a beta of 0.83. The firm’s 50 day moving average is $119.05 and its two-hundred day moving average is $105.15.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share 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 firm had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. During the same period in the prior year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts predict that Dorman Products will post 6.9 earnings per share for the current year.

Dorman Products Company Profile

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.