Roth Capital Raises Earnings Estimates for Dorman Products

Dorman Products, Inc. (NASDAQ:DORM) – Equities research analysts at Roth Capital lifted their FY2024 earnings per share (EPS) estimates for shares of Dorman Products in a report issued on Monday, November 4th. Roth Capital analyst S. Stember now forecasts that the auto parts company will post earnings per share of $6.95 for the year, up from their prior forecast of $6.20. The consensus estimate for Dorman Products’ current full-year earnings is $6.90 per share. Roth Capital also issued estimates for Dorman Products’ Q4 2024 earnings at $2.03 EPS, Q4 2025 earnings at $2.15 EPS, FY2025 earnings at $7.62 EPS and FY2026 earnings at $8.50 EPS.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.43. The company had revenue of $503.77 million during the quarter, compared to analysts’ expectations of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. Dorman Products’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS.

DORM has been the topic of several other reports. CJS Securities initiated coverage on shares of Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 price objective on the stock. Roth Mkm restated a “buy” rating and issued a $153.00 price objective (up from $126.00) on shares of Dorman Products in a report on Monday. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $125.67.

Dorman Products Stock Performance

Dorman Products stock opened at $137.72 on Wednesday. Dorman Products has a twelve month low of $66.07 and a twelve month high of $138.15. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $4.21 billion, a P/E ratio of 23.03 and a beta of 0.83. The stock’s 50 day moving average is $114.51 and its 200 day moving average is $102.17.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Dorman Products by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock worth $292,282,000 after acquiring an additional 41,849 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Dorman Products by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,044 shares of the auto parts company’s stock worth $94,136,000 after purchasing an additional 24,811 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Dorman Products by 2.3% during the 3rd quarter. WCM Investment Management LLC now owns 302,620 shares of the auto parts company’s stock valued at $34,372,000 after purchasing an additional 6,754 shares during the period. Summit Creek Advisors LLC lifted its stake in shares of Dorman Products by 0.6% during the 1st quarter. Summit Creek Advisors LLC now owns 227,303 shares of the auto parts company’s stock valued at $21,910,000 after buying an additional 1,400 shares in the last quarter. Finally, Fiera Capital Corp purchased a new stake in Dorman Products in the 3rd quarter worth $25,571,000. Institutional investors own 84.70% of the company’s stock.

Insider Activity

In related news, SVP Jeffery Darby sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $118.98, for a total value of $285,552.00. Following the sale, the senior vice president now owns 19,871 shares in the company, valued at approximately $2,364,251.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Steven L. Berman sold 16,071 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.55, for a total transaction of $1,873,075.05. Following the completion of the sale, the director now owns 888,656 shares of the company’s stock, valued at $103,572,856.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffery Darby sold 2,400 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $118.98, for a total value of $285,552.00. Following the completion of the transaction, the senior vice president now directly owns 19,871 shares in the company, valued at approximately $2,364,251.58. This represents 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 54,297 shares of company stock valued at $6,316,471 in the last 90 days. 10.00% of the stock is currently owned by insiders.

About Dorman Products

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.