Dorman Products, Inc. (NASDAQ:DORM) released its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.01, Morningstar.com reports. The company had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. Dorman Products’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share.
Dorman Products (DORM) opened at 64.97 on Friday. Dorman Products has a 12 month low of $60.00 and a 12 month high of $88.50. The firm has a 50-day moving average of $75.44 and a 200 day moving average of $78.45. The firm has a market capitalization of $2.21 billion, a PE ratio of 19.75 and a beta of 0.61.
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In other Dorman Products news, Director Paul R. Lederer sold 1,800 shares of Dorman Products stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.82, for a total transaction of $134,676.00. Following the transaction, the director now directly owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. FTB Advisors Inc. increased its position in Dorman Products by 7.7% in the first quarter. FTB Advisors Inc. now owns 1,260 shares of the auto parts company’s stock valued at $104,000 after buying an additional 90 shares during the period. YorkBridge Wealth Partners LLC increased its position in Dorman Products by 3.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock valued at $115,000 after buying an additional 41 shares during the period. SG Americas Securities LLC acquired a new position in Dorman Products during the second quarter valued at approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dorman Products by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock valued at $119,000 after buying an additional 118 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in Dorman Products by 10.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock valued at $120,000 after buying an additional 139 shares during the period. 75.86% of the stock is currently owned by hedge funds and other institutional investors.
DORM has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. BidaskClub cut shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price objective (up from $78.00) on shares of Dorman Products in a research report on Wednesday, May 3rd. Finally, FBR & Co reiterated a “mkt perform” rating and set a $74.50 price objective on shares of Dorman Products in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $81.25.
About Dorman Products
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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