Dorman Products (NASDAQ:DORM) Announces Quarterly Earnings Results

Dorman Products (NASDAQ:DORM) released its quarterly earnings results on Tuesday. The auto parts company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.49, Briefing.com reports. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. The firm had revenue of $468.70 million for the quarter, compared to analyst estimates of $472.35 million. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue was up .4% on a year-over-year basis. Dorman Products updated its FY24 guidance to $5.40-5.70 EPS.

Dorman Products Stock Up 1.4 %

Dorman Products stock traded up $1.26 during midday trading on Wednesday, reaching $92.63. The stock had a trading volume of 6,234 shares, compared to its average volume of 114,097. The company has a fifty day moving average price of $91.94 and a two-hundred day moving average price of $83.01. The company has a market capitalization of $2.87 billion, a P/E ratio of 22.29 and a beta of 0.83. The company has a current ratio of 2.25, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Dorman Products has a 12 month low of $60.01 and a 12 month high of $98.55.

Analysts Set New Price Targets

Several research analysts have issued reports on DORM shares. Barrington Research restated an “outperform” rating and set a $90.00 price target on shares of Dorman Products in a report on Tuesday, February 27th. TheStreet upgraded shares of Dorman Products from a “c+” rating to a “b” rating in a report on Wednesday, March 20th. StockNews.com raised Dorman Products from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $116.00 target price on shares of Dorman Products in a research note on Monday, March 25th.

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.