Dorman Products (NASDAQ:DORM) Releases FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.85-6.95 for the period, compared to the consensus estimate of $6.13. The company issued revenue guidance of $2.00-2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Dorman Products also updated its FY 2024 guidance to 6.850-6.950 EPS.

Dorman Products Stock Performance

Shares of Dorman Products stock traded up $13.76 during trading on Friday, hitting $127.79. 387,034 shares of the company’s stock were exchanged, compared to its average volume of 127,741. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.37 and a beta of 0.83. The business has a 50-day simple moving average of $113.58 and a 200-day simple moving average of $101.41. Dorman Products has a 52-week low of $64.89 and a 52-week high of $129.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.19 and a current ratio of 2.40.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.42. Dorman Products had a return on equity of 17.15% and a net margin of 9.43%. The business had revenue of $503.77 million during the quarter, compared to analyst estimates of $509.54 million. During the same quarter last year, the business posted $1.40 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, research analysts forecast that Dorman Products will post 6.15 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Steven L. Berman sold 2,669 shares of Dorman Products stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $112.57, for a total value of $300,449.33. Following the completion of the transaction, the director now owns 876,156 shares in the company, valued at $98,628,880.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Steven L. Berman sold 1,331 shares of Dorman Products stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $116.05, for a total value of $154,462.55. Following the sale, the director now owns 879,967 shares in the company, valued at $102,120,170.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven L. Berman sold 2,669 shares of the business’s stock in a transaction dated 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 directly owns 876,156 shares of the company’s stock, valued at $98,628,880.92. This represents 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 in the last ninety days. Company 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.