Dorman Products (NASDAQ:DORM) Announces Earnings Results

Dorman Products (NASDAQ:DORM) posted its quarterly earnings results on Thursday. The auto parts company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.48, Briefing.com reports. The business had revenue of $502.95 million during the quarter, compared to analysts’ expectations of $497.46 million. Dorman Products had a net margin of 8.75% and a return on equity of 16.12%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. Dorman Products updated its FY24 guidance to $6.00-6.20 EPS and its FY 2024 guidance to 6.000-6.200 EPS.

Dorman Products Stock Up 4.3 %

DORM traded up $4.26 during trading hours on Friday, hitting $102.84. 217,052 shares of the company’s stock were exchanged, compared to its average volume of 137,695. The firm has a market cap of $3.19 billion, a P/E ratio of 20.69 and a beta of 0.82. Dorman Products has a 12-month low of $60.01 and a 12-month high of $104.96. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $93.82 and a 200 day moving average of $90.71.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and issued a $116.00 price objective on shares of Dorman Products in a report on Friday, June 14th.

Insider Buying and Selling at Dorman Products

In related news, SVP Donna M. Long sold 500 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $92.06, for a total transaction of $46,030.00. Following the completion of the transaction, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at approximately $1,852,799.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total transaction of $138,572.00. Following the completion of the sale, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $2,481,527.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Donna M. Long sold 500 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $92.06, for a total transaction of $46,030.00. Following the transaction, the senior vice president now owns 20,126 shares of the company’s stock, valued at approximately $1,852,799.56. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate 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.