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

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

Dorman Products Stock Down 1.5 %

Shares of NASDAQ:DORM traded down $2.13 during midday trading on Tuesday, hitting $138.46. 106,809 shares of the stock were exchanged, compared to its average volume of 137,116. The company has a market capitalization of $4.23 billion, a PE ratio of 23.15 and a beta of 0.87. Dorman Products has a 52-week low of $74.09 and a 52-week high of $146.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The business’s fifty day simple moving average is $124.51 and its two-hundred day simple moving average is $108.80.

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

Insider Transactions at Dorman Products

In related news, SVP Donna M. Long sold 3,277 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $134.79, for a total transaction of $441,706.83. Following the completion of the transaction, the senior vice president now owns 20,126 shares of the company’s stock, valued at $2,712,783.54. This trade represents a 14.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven L. Berman sold 27,632 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the completion of the sale, the director now owns 936,024 shares in the company, valued at approximately $108,316,697.28. This trade represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,988 shares of company stock worth $7,795,833. Company insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Dorman Products

Several institutional investors have recently bought and sold shares of DORM. Price T Rowe Associates Inc. MD raised its position in shares of Dorman Products by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,724 shares of the auto parts company’s stock valued at $1,805,000 after purchasing an additional 953 shares during the period. Tidal Investments LLC bought a new position in Dorman Products in the 1st quarter worth $328,000. SG Americas Securities LLC lifted its position in Dorman Products by 1,595.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,035 shares of the auto parts company’s stock worth $1,924,000 after acquiring an additional 19,794 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Dorman Products by 5.1% during the second quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company’s stock valued at $20,526,000 after acquiring an additional 10,915 shares during the period. Finally, Leeward Investments LLC MA grew its position in shares of Dorman Products by 5.6% in the second quarter. Leeward Investments LLC MA now owns 140,036 shares of the auto parts company’s stock valued at $12,810,000 after purchasing an additional 7,437 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DORM has been the topic of a number of analyst reports. CJS Securities assumed coverage on Dorman Products in a research note on Friday, September 13th. They issued an “outperform” rating and a $134.00 price target on the stock. Roth Mkm restated 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 currently has an average rating of “Buy” and an average 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.