Dorman Products (NASDAQ:DORM) Issues FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.85-6.95 for the period, compared to the consensus EPS estimate of $6.13. The company issued revenue guidance of $2.00-2.02 billion, compared to the consensus revenue estimate of $2.00 billion. Dorman Products also updated its FY 2024 guidance to 6.850-6.950 EPS.

Dorman Products Trading Up 12.1 %

Shares of NASDAQ DORM traded up $13.76 during midday trading on Friday, hitting $127.79. 387,034 shares of the company traded hands, compared to its average volume of 127,741. Dorman Products has a 12-month low of $64.89 and a 12-month high of $129.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.19 and a current ratio of 2.40. The stock has a 50-day moving average price of $113.58 and a 200 day moving average price of $101.41. The firm has a market cap of $3.91 billion, a P/E ratio of 21.37 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.42. Dorman Products had a net margin of 9.43% and a return on equity of 17.15%. The company had revenue of $503.77 million for the quarter, compared to analysts’ expectations of $509.54 million. During the same quarter in the previous year, the company earned $1.40 earnings per share. Dorman Products’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts expect that Dorman Products will post 6.15 earnings per share for the current year.

Analyst Ratings Changes

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 price objective on the stock. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $113.33.

Insider Buying and Selling

In other news, Director Steven L. Berman sold 27,632 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 936,024 shares in the company, valued at approximately $108,316,697.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Steven L. Berman sold 27,632 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 936,024 shares in the company, valued at approximately $108,316,697.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeffery Darby sold 1,400 shares of the company’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 transaction of $146,972.00. Following the completion of the transaction, the senior vice president now owns 23,671 shares in the company, valued at approximately $2,484,981.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,297 shares of company stock valued at $6,163,491 over the last quarter. 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.