Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 16.1%

Dorman Products, Inc. (NASDAQ:DORM) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 383,600 shares, a growth of 16.1% from the October 31st total of 330,400 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 172,300 shares, the short-interest ratio is presently 2.2 days.

Insiders Place Their Bets

In related news, Director Steven L. Berman sold 2,669 shares of Dorman Products stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $112.57, for a total value of $300,449.33. Following the completion of the transaction, the director now owns 876,156 shares in the company, valued at approximately $98,628,880.92. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Luftig sold 3,278 shares of Dorman Products stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the completion of the transaction, the senior vice president now owns 5,934 shares of the company’s stock, valued at $837,821.46. This trade represents a 35.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,988 shares of company stock valued at $7,795,833 over the last ninety days. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Dorman Products

Institutional investors and hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. purchased a new stake in Dorman Products in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC raised its position in Dorman Products by 5,460.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 273 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in Dorman Products in the 3rd quarter valued at $31,000. Quest Partners LLC purchased a new stake in Dorman Products in the 2nd quarter valued at $37,000. Finally, Covestor Ltd raised its position in Dorman Products by 781.4% during the 3rd quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock worth $43,000 after buying an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Dorman Products Stock Up 0.1 %

Shares of NASDAQ:DORM traded up $0.18 during trading on Friday, hitting $139.98. 60,380 shares of the company were exchanged, compared to its average volume of 229,501. The stock has a market capitalization of $4.27 billion, a P/E ratio of 23.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. Dorman Products has a 12-month low of $69.77 and a 12-month high of $146.60. The firm’s 50 day moving average price is $123.54 and its 200-day moving average price is $108.02.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data 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 net margin of 9.43% and a return on equity of 16.95%. The business had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. During the same quarter in the previous year, the firm earned $1.40 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, research analysts predict that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.