Dorman Products (DORM) Trading 10.8% Higher

Dorman Products Inc. (NASDAQ:DORM) shares traded up 10.8% on Wednesday . The stock traded as high as $69.41 and last traded at $69.11. 691,471 shares changed hands during trading, an increase of 48% from the average session volume of 467,435 shares. The stock had previously closed at $62.38.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Jefferies Group restated a “hold” rating and issued a $75.00 price target on shares of Dorman Products in a research report on Sunday, October 29th. B. Riley restated a “neutral” rating and issued a $65.00 price target (down previously from $75.00) on shares of Dorman Products in a research report on Wednesday, November 1st. BidaskClub cut Dorman Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Finally, FBR & Co restated a “neutral” rating and issued a $65.00 price target (down previously from $75.00) on shares of Dorman Products in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $68.33.

The firm has a market cap of $2,330.56, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.66 and a beta of 0.61.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Friday, October 27th. The auto parts company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.07). The business had revenue of $224.60 million during the quarter, compared to analyst estimates of $233.56 million. Dorman Products had a net margin of 12.53% and a return on equity of 18.32%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. sell-side analysts anticipate that Dorman Products Inc. will post 3.34 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. lifted its stake in shares of Dorman Products by 0.3% in the second quarter. Pinebridge Investments L.P. now owns 3,976 shares of the auto parts company’s stock worth $329,000 after acquiring an additional 11 shares during the period. YorkBridge Wealth Partners LLC lifted its stake in shares of Dorman Products by 3.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock worth $115,000 after acquiring an additional 41 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Dorman Products by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,405 shares of the auto parts company’s stock worth $199,000 after acquiring an additional 115 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Dorman Products by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock worth $119,000 after acquiring an additional 118 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of Dorman Products by 10.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock worth $120,000 after acquiring an additional 139 shares during the period. 76.23% of the stock is currently owned by hedge funds and other institutional investors.

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About Dorman Products

Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.

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