Dorman Products (NASDAQ:DORM) Updates FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.00-6.20 for the period, compared to the consensus estimate of $5.64. The company issued revenue guidance of $1.99-2.03 billion, compared to the consensus revenue estimate of $2.00 billion.

Dorman Products Trading Down 2.8 %

Shares of Dorman Products stock traded down $2.79 during trading hours on Thursday, hitting $98.58. The company’s stock had a trading volume of 157,458 shares, compared to its average volume of 121,871. The business has a fifty day moving average of $93.44 and a 200 day moving average of $90.50. The company has a market capitalization of $3.06 billion, a PE ratio of 19.65 and a beta of 0.82. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 0.40. Dorman Products has a 1-year low of $60.01 and a 1-year high of $104.74.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.49. The company had revenue of $468.70 million for the quarter, compared to the consensus estimate of $472.35 million. Dorman Products had a return on equity of 14.61% and a net margin of 8.10%. Dorman Products’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. As a group, equities analysts forecast that Dorman Products will post 5.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a buy rating and set a $116.00 price objective on shares of Dorman Products in a research note on Friday, June 14th.

Insider Transactions at Dorman Products

In related news, SVP Donna M. Long sold 500 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $92.06, for a total transaction of $46,030.00. Following the completion of the sale, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at $1,852,799.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total value of $138,572.00. Following the sale, the senior vice president now owns 25,071 shares in the company, valued at $2,481,527.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Donna M. Long sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $92.06, for a total value of $46,030.00. Following the completion of the sale, the senior vice president now owns 20,126 shares of the company’s stock, valued at approximately $1,852,799.56. The disclosure for this sale can be found here. Company insiders own 10.00% of the company’s stock.

About Dorman Products

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.