Dorman Products (NASDAQ:DORM) Posts Earnings Results, Beats Estimates By $0.48 EPS

Dorman Products (NASDAQ:DORM) released its quarterly earnings data on Thursday. The auto parts company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.48, Briefing.com reports. Dorman Products had a return on equity of 16.12% and a net margin of 8.75%. The firm had revenue of $502.95 million for the quarter, compared to the consensus estimate of $497.46 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Dorman Products updated its FY24 guidance to $6.00-6.20 EPS and its FY 2024 guidance to 6.000-6.200 EPS.

Dorman Products Stock Performance

DORM stock traded up $4.26 during midday trading on Friday, hitting $102.84. 217,052 shares of the company traded hands, compared to its average volume of 137,695. Dorman Products has a twelve month low of $60.01 and a twelve month high of $104.96. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $93.82 and a 200-day simple moving average of $90.71. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 20.69 and a beta of 0.82.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Dorman Products

In other Dorman Products news, 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 transaction of $46,030.00. Following the transaction, the senior vice president now owns 20,126 shares in the company, valued at $1,852,799.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeffery Darby sold 1,400 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at $2,481,527.58. The disclosure for this sale can be found here. 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.