Dorman Products (NASDAQ:DORM) Shares Up 6.2% Following Earnings Beat

Dorman Products, Inc. (NASDAQ:DORM)’s share price was up 6.2% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $121.45 and last traded at $122.03. Approximately 184,290 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 179,251 shares. The stock had previously closed at $114.95.

The auto parts company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.54. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The business had revenue of $507.69 million for the quarter, compared to analyst estimates of $483.09 million. During the same period in the previous year, the company posted $1.31 EPS. The company’s revenue was up 8.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Dorman Products from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Insider Activity

In other Dorman Products news, SVP Donna M. Long sold 742 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $130.38, for a total transaction of $96,741.96. Following the completion of the sale, the senior vice president now owns 19,894 shares in the company, valued at $2,593,779.72. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Trading of Dorman Products

Several institutional investors have recently added to or reduced their stakes in DORM. Jones Financial Companies Lllp raised its stake in Dorman Products by 518.4% during the fourth quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 197 shares during the period. Quent Capital LLC bought a new stake in shares of Dorman Products in the 4th quarter worth approximately $31,000. CIBC Private Wealth Group LLC boosted its position in Dorman Products by 163.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 172 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Dorman Products during the 4th quarter worth $42,000. Finally, Blue Trust Inc. increased its position in Dorman Products by 1,581.0% in the fourth quarter. Blue Trust Inc. now owns 353 shares of the auto parts company’s stock worth $46,000 after buying an additional 332 shares during the period. Institutional investors own 84.70% of the company’s stock.

Dorman Products Stock Up 7.0 %

The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.76 billion, a P/E ratio of 20.57 and a beta of 0.86. The firm’s 50-day moving average price is $119.84 and its 200 day moving average price is $126.78.

Dorman Products Company Profile

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.