Dorman Products (NASDAQ:DORM) Stock Price Down 6% - What's Next?

Key Points

• Dorman Products shares fell 6% to about $125.17 in Monday trading, with volume 15% above its average session volume.
• Analysts remain generally positive, with six Buy ratings and two Holds; the consensus rating is “Moderate Buy” and the average price target is $159.50.
• The company exceeded quarterly expectations, reporting $1.57 in earnings per share and $528.77 million in revenue, while institutional investors own approximately 84.7% of the stock.

Dorman Products, Inc. (NASDAQ:DORM - Get Free Report)'s share price dropped 6% on Monday . The company traded as low as $126.60 and last traded at $125.1690. 295,108 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 256,464 shares. The stock had previously closed at $133.16.

Analysts Set New Price Targets

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

Dorman Products Stock Performance

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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Congruence Capital LLC acquired a new position in Dorman Products in the fourth quarter valued at about $1,998,000. First Eagle Investment Management LLC bought a new position in Dorman Products during the fourth quarter worth about $9,035,000. KTF Investments LLC acquired a new position in shares of Dorman Products during the 4th quarter worth about $13,681,000. UBS Group AG grew its position in shares of Dorman Products by 90.1% during the 4th quarter. UBS Group AG now owns 95,609 shares of the auto parts company's stock worth $11,778,000 after buying an additional 45,314 shares during the period. Finally, Norges Bank bought a new stake in shares of Dorman Products in the 4th quarter valued at about $41,488,000. 84.70% of the stock is currently owned by institutional investors.

About Dorman Products

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.

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