Dorman Products (NASDAQ:DORM) Updates FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.40-5.70 for the period, compared to the consensus earnings per share estimate of $5.55. The company issued revenue guidance of +3-5% yr/yr to ~$1.99-2.03 billion, compared to the consensus revenue estimate of $2.00 billion.

Dorman Products Stock Down 0.2 %

DORM stock traded down $0.17 during trading on Wednesday, reaching $91.20. 63,305 shares of the company traded hands, compared to its average volume of 114,714. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 22.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 2.25. The business has a 50 day simple moving average of $91.94 and a 200 day simple moving average of $83.01. Dorman Products has a 12 month low of $60.01 and a 12 month high of $98.55.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.49. The firm had revenue of $468.70 million for the quarter, compared to the consensus estimate of $472.35 million. Dorman Products had a net margin of 6.70% and a return on equity of 12.92%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that Dorman Products will post 5.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.