Dorman Products (NASDAQ:DORM) Updates FY24 Earnings Guidance

by · The Markets Daily

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

Wall Street Analysts Forecast Growth

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 MarketBeat, Dorman Products has a consensus rating of “Buy” and a consensus price target of $113.33.

Get Our Latest Stock Analysis on DORM

Dorman Products Trading Up 12.1 %

Shares of NASDAQ DORM traded up $13.76 during mid-day trading on Friday, hitting $127.79. The company’s stock had a trading volume of 387,034 shares, compared to its average volume of 127,741. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 21.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.40 and a quick ratio of 1.19. Dorman Products has a one year low of $64.89 and a one year high of $129.00. The company’s fifty day simple moving average is $113.58 and its 200-day simple moving average is $101.41.

Dorman Products (NASDAQ:DORM – Get Free Report) last issued its 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. The company had revenue of $503.77 million for 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 company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 EPS. On average, sell-side analysts anticipate that Dorman Products will post 6.15 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total value of $146,972.00. Following the transaction, the senior vice president now owns 23,671 shares of the company’s stock, valued at approximately $2,484,981.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jeffery Darby sold 1,400 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total value of $146,972.00. Following the sale, the senior vice president now directly owns 23,671 shares in the company, valued at $2,484,981.58. This trade represents 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, Director Steven L. Berman sold 16,071 shares of the stock in a transaction that occurred 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 in the company, valued at $103,572,856.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,297 shares of company stock valued at $6,163,491. 10.00% of the stock is currently owned by insiders.

Dorman Products Company Profile

(Get Free Report)

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.

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