() experienced a significant drop in short interest during the month of July. On June 30, there were 333,600 short shares. This is a decrease of 16.3% compared to the total of 398 400 shares on June 15. At the moment, 1,3% of shares in the company are short. The days-tocover ratio, based on a daily average trading volume of 99,300 stocks, is currently 3.4.
Hedge Funds weigh in on Dorman Products
Recent changes in institutional investor's holdings have been made. Allspring Global Investments Holdings LLC increased its holdings in Dorman Products shares by 298,8% during the second quarterly. Allspring Global Investments Holdings LLC owns 335 of the auto parts firm's shares worth $26,000, after purchasing an additional 251 during the previous quarter. Point72 Hong Kong Ltd purchased a new Dorman Products position valued at approximately $26,000 in the second quarter. Dark Forest Capital Management LP increased its Dorman Products position by 536.8% during the first quarter. Dark Forest Capital Management LP owns now 554 shares worth $48,000 of the auto parts firm's stock after purchasing an additional 467 in the last quarter. Quadrant Capital Group increased its holdings in Dorman Products in the fourth quarter by 41.5%. Quadrant Capital Group, LLC owns 876 of the auto parts firm's shares valued at $71,000. This is after purchasing an additional 257 in the last quarter. Tower Research Capital LLC TRC increased its Dorman Products position by 119.6% during the first quarter. Tower Research Capital LLC TRC owns 861 of the auto parts firm's shares valued at $74,000, after purchasing an additional 469 in the last quarter. The price of a share rose $0.59 to $82.19 on Friday. The company's shares were traded at a volume of 98,269, which is lower than its normal volume of 101,698. The company has a $2.59 billion market capitalization, a P/E ratio of 27,95 and a Beta of 0.54. Dorman Products' 52-week low is $73.32, and its 52-week high is $119.04. The 50-day moving-average of the business is $82.45, and its 200-day moving-average is $86.03. The company's quick ratio is 0.83, its current ratio is 1.96 and its debt-to equity ratio is 0.46.
The last time ) released its results was on May 2nd. The auto parts company's earnings per share were $0.56, which was $0.56 less than the $0.94 consensus estimate of analysts. Revenue for the quarter was $466.74 millions, which is lower than analyst expectations of $487.43million. Dorman Products' return on equity was 12.38%, and its net margin was 5.12%. Revenue for the firm was up 16.2% year-over-year. In the same quarter last year, Dorman Products posted earnings of $1.29 per share. Analysts at equities firms predict that Dorman Products' earnings per share will be 5.16 for the current fiscal year.
Analysts set new price targets
Recently, several brokerages weighed in about DORM. In a research report published on May 3rd, TheStreet downgraded Dorman Products' shares from a "b-" rating to a "c+". In a research report published on Thursday 18th May, Dorman Products shares were covered. The company was given a "hold" rating. Three analysts gave the company a buy rating, while two analysts gave it a hold. MarketBeat data shows that the average rating for the stock is 'Moderate' Buy with an average price of $111.67.
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Dorman Products, Inc. supplies replacement and upgrade components for passenger cars, medium- and heavy duty trucks, as well as the automotive aftermarket worldwide. It provides powertrain products such as intake and exhaust manifolds. Also, it offers cooling products, harmonic ballasts. fluid lines and reservoirs. connectors. 4-wheel drive and axles.
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