Dorman Products (NASDAQ:DORM) Issues FY 2024 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.400-5.700 for the period, compared to the consensus estimate of 5.550. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion.

Analysts Set New Price Targets

DORM has been the subject of a number of analyst reports. Roth Mkm restated a buy rating and issued a $116.00 price objective on shares of Dorman Products in a research report on Monday, March 25th. StockNews.com raised shares of Dorman Products from a hold rating to a buy rating in a research note on Thursday, March 7th. Barrington Research reissued an outperform rating and issued a $90.00 price target on shares of Dorman Products in a research note on Tuesday, February 27th. Finally, TheStreet upgraded Dorman Products from a c+ rating to a b rating in a report on Wednesday, March 20th.

Dorman Products Trading Up 0.6 %

Dorman Products stock traded up $0.54 during trading hours on Wednesday, reaching $91.91. The stock had a trading volume of 11,397 shares, compared to its average volume of 114,182. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.25 and a quick ratio of 1.09. The company has a fifty day simple moving average of $91.94 and a 200-day simple moving average of $83.01. The stock has a market cap of $2.85 billion, a PE ratio of 22.29 and a beta of 0.83. Dorman Products has a 52 week low of $60.01 and a 52 week high of $98.55.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Tuesday, May 7th. The auto parts company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.49. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. The business had revenue of $468.70 million during the quarter, compared to analyst estimates of $472.35 million. During the same quarter in the prior year, the company posted $0.56 EPS. Dorman Products’s quarterly revenue was up .4% compared to the same quarter last year. Analysts forecast that Dorman Products will post 5.55 EPS for the current fiscal year.

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.