Dorman Products (NASDAQ:DORM) Shares Down 6% – Should You Sell?

Dorman Products, Inc. (NASDAQ:DORM)’s share price traded down 6% on Monday . The stock traded as low as $126.60 and last traded at $125.1690. Approximately 295,108 shares changed hands during trading, an increase of 15% from the average session volume of 256,464 shares. The stock had previously closed at $133.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DORM shares. Barrington Research reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Dorman Products in a research note on Monday, May 4th. Weiss Ratings raised shares of Dorman Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Zacks Research upgraded shares of Dorman Products from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Wells Fargo & Company raised their price objective on Dorman Products from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Dorman Products Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 3.29 and a quick ratio of 1.28. The company’s 50-day moving average price is $131.87 and its 200-day moving average price is $121.63. The company has a market cap of $3.80 billion, a P/E ratio of 20.70 and a beta of 0.98.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, May 4th. The auto parts company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.52 by $0.05. The business had revenue of $528.77 million for the quarter, compared to analysts’ expectations of $524.80 million. Dorman Products had a net margin of 8.84% and a return on equity of 17.73%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 EPS. As a group, sell-side analysts predict that Dorman Products, Inc. will post 8.22 earnings per share for the current fiscal year.

Institutional Trading of Dorman Products

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Dorman Products by 594.1% in the second quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock valued at $29,000 after purchasing an additional 202 shares in the last quarter. Miller Capital Partners Inc. bought a new position in shares of Dorman Products during the fourth quarter worth about $37,000. Kestra Advisory Services LLC acquired a new stake in Dorman Products in the 4th quarter valued at approximately $48,000. Sankala Group LLC acquired a new stake in Dorman Products in the 4th quarter valued at approximately $47,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Dorman Products in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.