Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 5.4%

Dorman Products, Inc. (NASDAQ:DORM) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 293,700 shares, an increase of 5.4% from the May 31st total of 278,600 shares. Based on an average trading volume of 113,700 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DORM shares. TheStreet raised shares of Dorman Products from a “c+” rating to a “b” rating in a report on Wednesday, March 20th. StockNews.com raised Dorman Products from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Roth Mkm reissued a “buy” rating and set a $116.00 target price on shares of Dorman Products in a research report on Friday, June 14th.

Insider Activity

In related news, SVP Donna M. Long sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $92.06, for a total value of $46,030.00. Following the completion of the sale, the senior vice president now directly owns 20,126 shares in the company, valued at $1,852,799.56. The sale was disclosed in a filing with the SEC, which is available at this link. 10.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorman Products

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in shares of Dorman Products by 277.4% during the fourth quarter. Parallel Advisors LLC now owns 317 shares of the auto parts company’s stock worth $26,000 after acquiring an additional 233 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in Dorman Products during the 1st quarter worth about $34,000. Headinvest LLC bought a new position in Dorman Products in the 3rd quarter worth about $30,000. Quest Partners LLC purchased a new position in Dorman Products during the 4th quarter valued at about $37,000. Finally, Mather Group LLC. bought a new stake in shares of Dorman Products during the first quarter valued at about $48,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Dorman Products Price Performance

DORM stock opened at $90.27 on Friday. The company has a market capitalization of $2.80 billion, a P/E ratio of 18.16 and a beta of 0.82. Dorman Products has a 52-week low of $60.01 and a 52-week high of $98.55. The business has a 50-day simple moving average of $91.25 and a two-hundred day simple moving average of $88.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 2.50.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.49. Dorman Products had a net margin of 8.10% and a return on equity of 14.61%. The company had revenue of $468.70 million for the quarter, compared to analyst estimates of $472.35 million. During the same period last year, the firm earned $0.56 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. Research analysts expect that Dorman Products will post 5.64 EPS for the current fiscal year.

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.