Dorman Products (NASDAQ:DORM) Posts Earnings Results, Beats Estimates By $0.42 EPS

Dorman Products (NASDAQ:DORM) announced its quarterly earnings results on Thursday. The auto parts company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.42, Briefing.com reports. The firm had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm 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 8.6 %

NASDAQ:DORM traded up $9.86 during trading hours on Friday, reaching $123.89. 119,819 shares of the stock were exchanged, compared to its average volume of 128,234. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 23.63 and a beta of 0.82. The company has a quick ratio of 1.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.38. Dorman Products has a twelve month low of $64.89 and a twelve month high of $129.00. The business has a 50-day moving average of $113.17 and a two-hundred day moving average of $100.97.

Insider Activity

In other Dorman Products news, Director Steven L. Berman sold 215 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.01, for a total transaction of $25,157.15. Following the transaction, the director now owns 881,298 shares of the company’s stock, valued at approximately $103,120,678.98. 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 this hyperlink. In other news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $113.98, for a total transaction of $159,572.00. Following the completion of the sale, the senior vice president now directly owns 22,271 shares of the company’s stock, valued at $2,538,448.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven L. Berman sold 215 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $117.01, for a total transaction of $25,157.15. Following the completion of the transaction, the director now owns 881,298 shares in the company, valued at $103,120,678.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,297 shares of company stock worth $6,163,491. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, CJS Securities began coverage on shares of Dorman Products in a report 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, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $113.33.

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.