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

Dorman Products, Inc. (NASDAQ:DORM) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 383,600 shares, a growth of 16.1% from the October 31st total of 330,400 shares. Based on an average daily volume of 172,300 shares, the short-interest ratio is presently 2.2 days. Currently, 1.5% of the company’s stock are sold short.

Dorman Products Price Performance

Shares of NASDAQ DORM traded up $0.18 during trading on Friday, hitting $139.98. The company had a trading volume of 60,380 shares, compared to its average volume of 229,501. The stock has a fifty day simple moving average of $123.54 and a two-hundred day simple moving average of $108.02. Dorman Products has a fifty-two week low of $69.77 and a fifty-two week high of $146.60. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 23.41 and a beta of 0.83. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DORM. Roth Mkm reiterated a “buy” rating and issued a $153.00 price objective (up previously from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. CJS Securities began coverage on shares of Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 price target on the stock. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $125.67.

Insider Transactions at Dorman Products

In other Dorman Products news, Director Steven L. Berman sold 215 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $117.01, for a total value of $25,157.15. Following the completion of the transaction, the director now owns 881,298 shares of the company’s stock, valued at approximately $103,120,678.98. This trade represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Donna M. Long sold 3,277 shares of the firm’s stock in a transaction on 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 directly owns 20,126 shares of the company’s stock, valued at approximately $2,712,783.54. This represents a 14.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,988 shares of company stock valued at $7,795,833. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Dorman Products

Several institutional investors have recently modified their holdings of DORM. Westside Investment Management Inc. purchased a new position in shares of Dorman Products in the third quarter worth about $29,000. Farther Finance Advisors LLC lifted its stake in shares of Dorman Products by 5,460.0% in the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after buying an additional 273 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Dorman Products in the third quarter worth about $31,000. Quest Partners LLC purchased a new position in Dorman Products during the second quarter worth about $37,000. Finally, Covestor Ltd raised its stake in Dorman Products by 781.4% during the third quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 336 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

About Dorman Products

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.