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

Dorman Products (NASDAQ:DORM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.000-6.200 for the period, compared to the consensus EPS estimate of 5.640. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. Dorman Products also updated its FY24 guidance to $6.00-6.20 EPS.

Dorman Products Stock Performance

NASDAQ DORM traded up $4.26 on Friday, hitting $102.84. 217,052 shares of the company’s stock were exchanged, compared to its average volume of 137,695. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.50 and a quick ratio of 1.17. The firm’s 50-day moving average price is $93.82 and its two-hundred day moving average price is $90.85. Dorman Products has a fifty-two week low of $60.01 and a fifty-two week high of $104.96. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 20.69 and a beta of 0.82.

Dorman Products (NASDAQ:DORM) last released its earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.48. Dorman Products had a return on equity of 16.12% and a net margin of 8.75%. The company had revenue of $502.95 million for the quarter, compared to analysts’ expectations of $497.46 million. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Dorman Products will post 5.64 EPS for the current year.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a buy rating and set a $116.00 target price on shares of Dorman Products in a research report on Friday, June 14th.

Insider Transactions at Dorman Products

In other news, SVP Donna M. Long sold 500 shares of the business’s 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 sale, the senior vice president now owns 20,126 shares of the company’s stock, valued at approximately $1,852,799.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jeffery Darby sold 1,400 shares of the company’s 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 sale, the senior vice president now owns 25,071 shares of the company’s stock, valued at approximately $2,481,527.58. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the sale, the senior vice president now directly owns 20,126 shares in the company, valued at approximately $1,852,799.56. The disclosure for this sale can be found here. Corporate 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.