Conestoga Capital Advisors LLC boosted its stake in Dorman Products Inc. (NASDAQ:DORM) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 493,840 shares of the auto parts company’s stock after buying an additional 28,005 shares during the period. Dorman Products comprises 2.1% of Conestoga Capital Advisors LLC’s holdings, making the stock its 20th largest position. Conestoga Capital Advisors LLC owned approximately 1.44% of Dorman Products worth $40,875,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DORM. FTB Advisors Inc. raised its stake in shares of 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 raised its stake in shares of Dorman Products by 7.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,349 shares of the auto parts company’s stock valued at $116,000 after buying an additional 98 shares during the period. Victory Capital Management Inc. raised its stake in shares of Dorman Products by 10.3% in the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock valued at $159,000 after buying an additional 180 shares during the period. LS Investment Advisors LLC raised its position in Dorman Products by 91.8% in the first quarter. LS Investment Advisors LLC now owns 2,235 shares of the auto parts company’s stock worth $184,000 after buying an additional 1,070 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in Dorman Products during the first quarter worth $188,000. 76.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Dorman Products Inc. (DORM) opened at 75.04 on Thursday. The company has a 50-day moving average of $77.75 and a 200-day moving average of $78.44. Dorman Products Inc. has a 1-year low of $60.00 and a 1-year high of $88.50. The firm has a market cap of $2.57 billion, a PE ratio of 22.81 and a beta of 0.61.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.84 by $0.01. Dorman Products had a return on equity of 18.33% and a net margin of 12.40%. The business had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. During the same period in the prior year, the firm posted $0.75 EPS. Dorman Products’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts predict that Dorman Products Inc. will post $3.45 earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. B. Riley reissued a “neutral” rating and issued a $74.50 target price on shares of Dorman Products in a research note on Monday, May 8th. BidaskClub downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $85.00 target price (up from $78.00) on shares of Dorman Products in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Dorman Products presently has an average rating of “Hold” and an average price target 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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