Dorman Products Inc. (DORM) Hits New 52-Week High at $57.99
Dorman Products Inc. (NASDAQ:DORM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $57.99 and last traded at $57.34, with a volume of 50,308 shares changing hands. The stock had previously closed at $57.33.
Several equities analysts have weighed in on DORM shares. FBR & Co reissued an “outperform” rating and issued a $62.00 target price on shares of Dorman Products in a research note on Saturday, May 14th. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, April 27th. Finally, B. Riley reissued a “neutral” rating and issued a $45.00 target price on shares of Dorman Products in a research note on Monday, May 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $55.75.
The stock has a 50 day moving average of $55.06 and a 200 day moving average of $51.05. The firm has a market capitalization of $1.97 billion and a P/E ratio of 21.04.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm had revenue of $208.20 million for the quarter, compared to the consensus estimate of $203.57 million. The company’s revenue was up 10.5% on a year-over-year basis. Analysts predict that Dorman Products Inc. will post $2.93 EPS for the current fiscal year.
In other Dorman Products news, SVP Michael Kealey sold 2,710 shares of Dorman Products stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $54.28, for a total transaction of $147,098.80. Following the transaction, the senior vice president now directly owns 2,880 shares of the company’s stock, valued at approximately $156,326.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul R. Lederer sold 3,750 shares of Dorman Products stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $53.00, for a total value of $198,750.00. Following the transaction, the director now directly owns 33,494 shares in the company, valued at $1,775,182. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Comerica Bank increased its position in shares of Dorman Products by 1.3% in the fourth quarter. Comerica Bank now owns 32,278 shares of the company’s stock worth $1,401,000 after buying an additional 425 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Dorman Products by 6.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 29,654 shares of the company’s stock worth $1,408,000 after buying an additional 1,726 shares in the last quarter. Morgan Stanley increased its position in shares of Dorman Products by 2.9% in the fourth quarter. Morgan Stanley now owns 30,111 shares of the company’s stock worth $1,430,000 after buying an additional 852 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Dorman Products by 2.9% in the fourth quarter. New York State Common Retirement Fund now owns 32,200 shares of the company’s stock worth $1,529,000 after buying an additional 900 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Dorman Products by 8.5% in the fourth quarter. Rhumbline Advisers now owns 33,010 shares of the company’s stock worth $1,567,000 after buying an additional 2,590 shares in the last quarter.
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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