Dorman Products (NASDAQ:DORM) Announces Earnings Results, Beats Expectations By $0.42 EPS

Dorman Products (NASDAQ:DORM) announced its earnings results on Thursday. The auto parts company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.54 by $0.42, Briefing.com reports. The firm had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. Dorman Products updated its FY24 guidance to $6.85-6.95 EPS and its FY 2024 guidance to 6.850-6.950 EPS.

Dorman Products Trading Up 12.1 %

Shares of DORM stock traded up $13.76 during trading hours on Friday, hitting $127.79. 380,966 shares of the company were exchanged, compared to its average volume of 129,465. 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 has a fifty-two week low of $64.89 and a fifty-two week high of $129.00. The company has a 50 day simple moving average of $113.26 and a two-hundred day simple moving average of $101.06. The firm has a market cap of $3.91 billion, a P/E ratio of 23.25 and a beta of 0.82.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total value of $146,972.00. Following the completion of the sale, the senior vice president now owns 23,671 shares of the company’s stock, valued at approximately $2,484,981.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Dorman Products news, Director Steven L. Berman sold 27,632 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $115.72, for a total value of $3,197,575.04. Following the completion of the sale, the director now directly owns 936,024 shares of the company’s stock, valued at approximately $108,316,697.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total value of $146,972.00. Following the completion of the sale, the senior vice president now owns 23,671 shares in the company, valued at approximately $2,484,981.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,297 shares of company stock valued at $6,163,491 over the last ninety days. 10.00% of the stock is owned by corporate insiders.

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.