Dorman Products (NASDAQ:DORM) Issues Quarterly Earnings Results

Dorman Products (NASDAQ:DORM) announced its quarterly earnings results on Thursday. The auto parts company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.42, Briefing.com reports. The company had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. 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 Trading Up 12.1 %

Shares of DORM stock opened at $127.79 on Friday. The stock has a 50 day simple moving average of $113.26 and a 200-day simple moving average of $101.06. Dorman Products has a 1-year low of $64.89 and a 1-year high of $129.00. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 23.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.40 and a quick ratio of 1.19.

Analysts Set New Price Targets

Separately, CJS Securities started coverage on Dorman Products in a report on Friday, September 13th. They set an “outperform” rating and a $134.00 target price on the stock. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Dorman Products currently has a consensus rating of “Buy” and an average price target of $113.33.

Insider Buying and Selling

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $113.98, for a total value of $159,572.00. Following the transaction, the senior vice president now directly owns 22,271 shares of the company’s stock, valued at $2,538,448.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 transaction of $159,572.00. Following the transaction, the senior vice president now owns 22,271 shares of the company’s stock, valued at approximately $2,538,448.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven L. Berman sold 2,669 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $112.57, for a total transaction of $300,449.33. Following the sale, the director now owns 876,156 shares of the company’s stock, valued at approximately $98,628,880.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,297 shares of company stock valued at $6,163,491. 10.00% of the stock is owned by corporate insiders.

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.