Dorman Products Inc. (DORM) Hits New 52-Week High at $57.99
Dorman Products Inc. (NASDAQ:DORM) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.99 and last traded at $56.43, with a volume of 84,769 shares traded. The stock had previously closed at $57.21.
A number of brokerages recently weighed in on DORM. FBR & Co reaffirmed an “outperform” rating and issued a $62.00 price target on shares of Dorman Products in a research note on Saturday, May 14th. B. Riley reaffirmed a “neutral” rating and issued a $49.50 price target on shares of Dorman Products in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Dorman Products from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, April 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Dorman Products currently has an average rating of “Hold” and a consensus price target of $56.88.
The company’s 50 day moving average price is $55.58 and its 200-day moving average price is $51.64. The firm has a market capitalization of $2.11 billion and a P/E ratio of 22.46.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business earned $209.60 million during the quarter, compared to analyst estimates of $214.11 million. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts expect that Dorman Products Inc. will post $2.93 earnings per share for the current year.
In other Dorman Products news, Director Edgar W. Levin sold 2,750 shares of Dorman Products stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $54.91, for a total value of $151,002.50. Following the transaction, the director now directly owns 60,081 shares in the company, valued at $3,299,047.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael Kealey sold 2,710 shares of Dorman Products stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $54.28, for a total transaction of $147,098.80. Following the completion of the transaction, the senior vice president now owns 2,880 shares in the company, valued at $156,326.40. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of DORM. US Bancorp DE raised its position in shares of Dorman Products by 2.8% in the fourth quarter. US Bancorp DE now owns 64,213 shares of the company’s stock worth $3,048,000 after buying an additional 1,736 shares during the period. American Capital Management Inc. raised its position in shares of Dorman Products by 129.0% in the fourth quarter. American Capital Management Inc. now owns 259,495 shares of the company’s stock worth $12,318,000 after buying an additional 146,170 shares during the period. Principal Financial Group Inc. raised its position in shares of Dorman Products by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 203,273 shares of the company’s stock worth $9,649,000 after buying an additional 8,149 shares during the period. Wells Fargo & Company MN raised its position in shares of Dorman Products by 23.2% in the fourth quarter. Wells Fargo & Company MN now owns 182,027 shares of the company’s stock worth $8,641,000 after buying an additional 34,246 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Dorman Products by 1.6% in the fourth quarter. Bank of Montreal Can now owns 59,770 shares of the company’s stock worth $2,837,000 after buying an additional 943 shares during the period.
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 140,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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