Dorman Products, Inc. (NASDAQ:DORM) Forecasted to Post Q3 2024 Earnings of $1.57 Per Share

Dorman Products, Inc. (NASDAQ:DORM) – Investment analysts at Roth Capital decreased their Q3 2024 earnings per share (EPS) estimates for shares of Dorman Products in a research report issued on Monday, August 5th. Roth Capital analyst S. Stember now anticipates that the auto parts company will post earnings of $1.57 per share for the quarter, down from their prior forecast of $1.59. The consensus estimate for Dorman Products’ current full-year earnings is $6.10 per share. Roth Capital also issued estimates for Dorman Products’ FY2024 earnings at $6.20 EPS and FY2025 earnings at $6.99 EPS.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Thursday, August 1st. The auto parts company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.19 by $0.48. The company had revenue of $502.95 million for the quarter, compared to the consensus estimate of $497.46 million. Dorman Products had a net margin of 8.75% and a return on equity of 16.12%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share.

Separately, Roth Mkm restated a “buy” rating and set a $116.00 price target on shares of Dorman Products in a report on Friday, June 14th.

Dorman Products Price Performance

DORM stock opened at $105.78 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $94.62 and its two-hundred day moving average price is $91.27. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 21.28 and a beta of 0.82. Dorman Products has a 12-month low of $60.01 and a 12-month high of $109.44.

Institutional Trading of Dorman Products

A number of hedge funds have recently modified their holdings of DORM. Teachers Retirement System of The State of Kentucky increased its position in Dorman Products by 210.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 28,700 shares of the auto parts company’s stock valued at $2,394,000 after buying an additional 19,447 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Dorman Products in the 1st quarter worth about $608,000. PEAK6 Investments LLC boosted its stake in Dorman Products by 69.7% in the 1st quarter. PEAK6 Investments LLC now owns 30,896 shares of the auto parts company’s stock worth $2,978,000 after purchasing an additional 12,691 shares in the last quarter. Trexquant Investment LP purchased a new stake in Dorman Products during the 4th quarter valued at about $1,640,000. Finally, Jennison Associates LLC increased its stake in Dorman Products by 73.1% during the 1st quarter. Jennison Associates LLC now owns 283,387 shares of the auto parts company’s stock valued at $27,316,000 after purchasing an additional 119,707 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Insider Activity at Dorman Products

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the company’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 completion of the transaction, the senior vice president now directly owns 25,071 shares in the company, valued at approximately $2,481,527.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total transaction of $138,572.00. Following the sale, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $2,481,527.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Donna M. Long sold 500 shares of the 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 transaction, the senior vice president now directly 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. Insiders have sold a total of 3,300 shares of company stock worth $331,574 over the last quarter. Corporate insiders own 10.00% of the company’s stock.

Dorman Products Company Profile

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.