Dorman Products (NASDAQ:DORM) Announces Earnings Results, Beats Expectations By $0.43 EPS

Dorman Products (NASDAQ:DORM) posted its earnings results on Thursday. The auto parts company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.43, Briefing.com reports. 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 17.15%. Dorman Products’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. 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 Stock Performance

DORM opened at $127.79 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.38. Dorman Products has a 12-month low of $64.89 and a 12-month high of $129.00. The firm has a 50 day moving average of $113.58 and a two-hundred day moving average of $101.41. The firm has a market capitalization of $3.91 billion, a PE ratio of 21.37 and a beta of 0.83.

Analysts Set New Price Targets

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

Insider Transactions at Dorman Products

In other Dorman Products news, Director Steven L. Berman sold 27,632 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Steven L. Berman sold 16,071 shares of Dorman Products stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.55, for a total transaction of $1,873,075.05. Following the completion of the transaction, the director now directly owns 888,656 shares in the company, valued at approximately $103,572,856.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven L. Berman sold 27,632 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 owns 936,024 shares in the company, valued at approximately $108,316,697.28. 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 worth $6,163,491 over the last 90 days. 10.00% of the stock is currently owned by company 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.