Dorman Products (NASDAQ:DORM) Sets New 1-Year High Following Strong Earnings

Dorman Products, Inc. (NASDAQ:DORM - Get Free Report)'s share price hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $129.00 and last traded at $125.11, with a volume of 30956 shares traded. The stock had previously closed at $114.03.

The auto parts company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.42. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The business had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. During the same period last year, the business earned $1.40 earnings per share. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

Separately, CJS Securities began coverage on Dorman Products in a research report on Friday, September 13th. They issued an "outperform" rating and a $134.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products currently has an average rating of "Buy" and a consensus target price of $113.33.

Insider Buying and Selling at Dorman Products

In other news, Director Steven L. Berman sold 27,632 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $115.72, for a total value of $3,197,575.04. Following the completion of the sale, the director now directly owns 936,024 shares of the company's stock, valued at approximately $108,316,697.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total transaction of $146,972.00. Following the transaction, the senior vice president now owns 23,671 shares in the company, valued at $2,484,981.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven L. Berman sold 27,632 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $115.72, for a total value of $3,197,575.04. Following the transaction, the director now owns 936,024 shares of the company's stock, valued at approximately $108,316,697.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,297 shares of company stock valued at $6,163,491 over the last three months. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dorman Products

Several institutional investors and hedge funds have recently modified their holdings of the stock. Equitable Trust Co. increased its stake in Dorman Products by 2.2% in the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company's stock worth $508,000 after purchasing an additional 97 shares during the period. Fiera Capital Corp purchased a new stake in shares of Dorman Products during the third quarter valued at about $25,571,000. Radnor Capital Management LLC acquired a new stake in Dorman Products in the third quarter valued at approximately $226,000. QRG Capital Management Inc. purchased a new position in Dorman Products during the 3rd quarter worth $204,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Dorman Products by 5,460.0% during the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company's stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 84.70% of the company's stock.

Dorman Products Price Performance

The stock's 50 day simple moving average is $113.26 and its 200-day simple moving average is $101.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.19 and a current ratio of 2.40. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 23.25 and a beta of 0.82.

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.