Dorman Products (NASDAQ:DORM) Issues Quarterly Earnings Results

Dorman Products (NASDAQ:DORM) announced its quarterly earnings results on Thursday. The auto parts company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.42, Briefing.com reports. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The firm had revenue of $503.77 million during the quarter, compared to analysts’ expectations of $509.54 million. During the same quarter last year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Dorman Products updated its FY24 guidance to $6.85-6.95 EPS and its FY 2024 guidance to 6.850-6.950 EPS.

Dorman Products Price Performance

Shares of DORM traded up $13.76 during trading hours on Friday, hitting $127.79. 380,966 shares of the company were exchanged, compared to its average volume of 129,465. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 23.25 and a beta of 0.82. The firm’s fifty day moving average is $113.26 and its 200 day moving average is $101.06. Dorman Products has a fifty-two week low of $64.89 and a fifty-two week high of $129.00. The company has a quick ratio of 1.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.38.

Wall Street Analysts Forecast Growth

Separately, CJS Securities initiated coverage on Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 price target on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $113.33.

Insiders Place Their Bets

In other Dorman Products news, Director Steven L. Berman sold 215 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $117.01, for a total transaction of $25,157.15. Following the completion of the sale, the director now directly owns 881,298 shares in the company, valued at $103,120,678.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Steven L. Berman sold 2,669 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $112.57, for a total transaction of $300,449.33. Following the sale, the director now owns 876,156 shares of the company’s stock, valued at $98,628,880.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven L. Berman sold 215 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.01, for a total value of $25,157.15. Following the completion of the transaction, the director now directly owns 881,298 shares of the company’s stock, valued at approximately $103,120,678.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,297 shares of company stock worth $6,163,491 over the last ninety days. Corporate 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.