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

Dorman Products (NASDAQ:DORM) issued its quarterly earnings results on Thursday. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.48, Briefing.com reports. Dorman Products had a net margin of 8.75% and a return on equity of 16.12%. The business had revenue of $502.95 million during the quarter, compared to analyst estimates of $497.46 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. 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

Shares of NASDAQ DORM traded up $4.26 during trading on Friday, reaching $102.84. The stock had a trading volume of 217,052 shares, compared to its average volume of 137,695. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 2.50. The stock has a market cap of $3.19 billion, a PE ratio of 20.69 and a beta of 0.82. Dorman Products has a one year low of $60.01 and a one year high of $104.96. The firm’s 50 day moving average price is $93.82 and its two-hundred day moving average price is $90.71.

Insider Buying and Selling

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total transaction of $138,572.00. Following the completion of the sale, the senior vice president now owns 25,071 shares in the company, valued at $2,481,527.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total value of $138,572.00. Following the completion of the transaction, the senior vice president now directly owns 25,071 shares in the company, valued at $2,481,527.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Donna M. Long sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $92.06, for a total value of $46,030.00. Following the transaction, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at $1,852,799.56. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.