Dorman Products Inc. (NASDAQ:DORM) SVP Jeffery Darby sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $80.00, for a total transaction of $160,000.00. Following the transaction, the senior vice president now owns 10,052 shares in the company, valued at approximately $804,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Dorman Products Inc. (NASDAQ:DORM) opened at 79.81 on Tuesday. Dorman Products Inc. has a one year low of $51.12 and a one year high of $81.98. The stock has a 50 day moving average of $74.87 and a 200 day moving average of $69.41. The stock has a market cap of $2.74 billion, a P/E ratio of 26.00 and a beta of 0.60.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $229.10 million for the quarter, compared to analysts’ expectations of $224.28 million. Dorman Products had a net margin of 11.87% and a return on equity of 18.49%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, analysts forecast that Dorman Products Inc. will post $3.36 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Dorman Products by 3.2% in the third quarter. Victory Capital Management Inc. now owns 1,793 shares of the company’s stock valued at $115,000 after buying an additional 56 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Dorman Products during the third quarter worth approximately $204,000. Advisor Group Inc. boosted its stake in shares of Dorman Products by 4.6% in the third quarter. Advisor Group Inc. now owns 3,440 shares of the company’s stock worth $219,000 after buying an additional 150 shares during the period. Genesee Valley Trust Co. acquired a new stake in shares of Dorman Products during the third quarter worth approximately $302,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Dorman Products during the third quarter worth approximately $319,000. Institutional investors and hedge funds own 74.38% of the company’s stock.
Several research analysts have weighed in on the stock. B. Riley restated a “neutral” rating and set a $70.00 price objective on shares of Dorman Products in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Dorman Products from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Friday, February 24th. FBR & Co downgraded shares of Dorman Products from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $68.00 to $80.00 in a report on Thursday, February 23rd. Finally, CL King downgraded shares of Dorman Products from a “buy” rating to a “neutral” rating in a report on Wednesday, January 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.25.
About Dorman Products
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 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.