Dorman Products (NASDAQ:DORM) Releases FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.85-6.95 for the period, compared to the consensus 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.

Analysts Set New Price Targets

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

Dorman Products Stock Up 12.1 %

Shares of DORM stock traded up $13.76 during mid-day trading on Friday, hitting $127.79. The stock had a trading volume of 387,034 shares, 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 current ratio of 2.40 and a quick ratio of 1.19. The firm’s 50-day moving average is $113.58 and its two-hundred day moving average is $101.41. The firm has a market capitalization of $3.91 billion, a P/E ratio of 21.37 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.42. The company had revenue of $503.77 million during the quarter, compared to analyst estimates of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 17.15%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, analysts predict that Dorman Products will post 6.15 earnings per share for the current fiscal year.

Insider Activity

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 owns 22,271 shares in the company, valued at $2,538,448.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $113.98, for a total value of $159,572.00. Following the completion of the transaction, the senior vice president now directly owns 22,271 shares in the company, valued at approximately $2,538,448.58. The trade was 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. Also, Director Steven L. Berman sold 16,071 shares of the stock in a transaction dated 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 sale, the director now directly owns 888,656 shares of the company’s stock, valued at approximately $103,572,856.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,297 shares of company stock worth $6,163,491. 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.