BlackRock Fund Advisors recently announced the acquisition of new stake in Dorman Products Inc. (NASDAQ:DORM). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.48% to 3.98 million shares with purchase of 19135.0 shares. This fresh investment now brings its stake to 12.67% valued currently at $321.98 million. In addition, The Vanguard Group, Inc. raised its holdings by 22184.0 to 2.93 million shares. And Eaton Vance Management has lifted its position by 1.20% or 11444.0 shares – to 0.97 million shares.
With over 0.15 million Dorman Products Inc. (DORM) shares trading Tuesday and a closing price of $92.01 on the day, the dollar volume was approximately $13.52 million. The shares have shown a negative half year performance of -12.56% and its price on 01/24/23 gained nearly 1.86%. Currently, there are 31.41M common shares owned by the public and among those 26.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for DORM have a consensus price objective of $99.75. The analysts have set the share’s price value over the next 12 months at a high of $118.00 and a low of $87.00. The average price target is 7.76% above its recent price level and a downside to the estimated low will see the stock lose -5.76% over that period. But an upside of 22.03% will see the stock hit the forecast high price target while median target price for the stock is $97.00.
Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 49,870 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 23,216 shares.
The top 3 mutual fund holders in Dorman Products Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Calvert Small Cap Fund. iShares Core S&P Small Cap ETF owns 2.09 million shares of the company’s stock, all valued at over $168.89 million. The company sold 5050.0 shares recently to bring their total holdings to about 6.65% of the shares outstanding. Vanguard Total Stock Market Index bought 3966.0 shares to see its total holdings expand to 0.81 million shares valued at over $65.66 million and representing 2.58% of the shares outstanding. Calvert Small Cap Fund bought 21277.0 shares to bring its total holdings to over 0.71 million shares at a value of $57.49 million. Calvert Small Cap Fund now owns shares totaling to 2.26% of the shares outstanding.
Shares of Dorman Products Inc. (NASDAQ: DORM) opened at $90.39, up $0.06 from a prior closing price of $90.33. However, the script later moved the day high at 93.00, up 1.86%. The company’s stock has a 5-day price change of 3.81% and 5.78% over the past three months. DORM shares are trading 13.78% year to date (YTD), with the 12-month market performance down to -1.81% lower. It has a 12-month low price of $73.32 and touched a high of $119.04 over the same period. DORM has an average intraday trading volume of 105.80K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.51%, 7.49%, and -1.68% respectively.
Institutional ownership of Dorman Products Inc. (NASDAQ: DORM) shares accounts for 77.20% of the company’s 31.41M shares outstanding. Mutual fund holders own 31.42%, while other institutional holders and individual stakeholders account for 47.67% and 13.67% respectively.
It has a market capitalization of $2.80B and a beta (3y monthly) value of 0.55. The stock’s trailing 12-month PE ratio is 21.10, while the earnings-per-share (ttm) stands at $4.36. The company has a PEG of 1.41 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.21% over the week and 3.77% over the month.
Analysts forecast that Dorman Products Inc. (DORM) will achieve an EPS of $1.2 for the current quarter, $1.28 for the next quarter and $5.43 for 2023. The lowest estimate earnings-per-share for the quarter is $1.05 while analysts give the company a high EPS estimate of $1.45. Comparatively, EPS for the current quarter was $1.33 a year ago. Earnings per share for the fiscal year are expected to increase by 24.70%, and 9.29% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to 6.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Dorman Products Inc. (DORM) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DORM, a number of firms have released research notes about the stock. MKM Partners stated their Buy rating for the stock in a research note on May 19, 2022, with the firm’s price target at $129. Barrington Research coverage for the Dorman Products Inc. (DORM) stock in a research note released on February 22, 2022 offered a Outperform rating with a price target of $120. CL King on their part issued Neutral rating on January 14, 2019.