Dorman Products (NASDAQ:DORM) Releases FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.00-6.20 for the period, compared to the consensus earnings per share estimate of $5.64. The company issued revenue guidance of $1.99-2.03 billion, compared to the consensus revenue estimate of $2.00 billion. Dorman Products also updated its FY 2024 guidance to 6.000-6.200 EPS.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a buy rating and set a $116.00 target price on shares of Dorman Products in a research note on Friday, June 14th.

Dorman Products Stock Up 4.3 %

Shares of Dorman Products stock traded up $4.26 on Friday, hitting $102.84. 217,052 shares of the company traded hands, compared to its average volume of 137,695. Dorman Products has a 12-month low of $60.01 and a 12-month high of $104.96. The company has a quick ratio of 1.17, a current ratio of 2.50 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.19 billion, a PE ratio of 20.69 and a beta of 0.82. The company has a 50-day moving average price of $93.82 and a 200 day moving average price of $90.71.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Thursday, August 1st. The auto parts company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.48. Dorman Products had a return on equity of 16.12% and a net margin of 8.75%. The firm had revenue of $502.95 million for the quarter, compared to the consensus estimate of $497.46 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Dorman Products will post 5.64 earnings per share for the current year.

Insider Activity

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total transaction of $138,572.00. Following the transaction, the senior vice president now directly owns 25,071 shares in the company, valued at $2,481,527.58. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total transaction of $138,572.00. Following the transaction, the senior vice president now owns 25,071 shares in the company, valued at $2,481,527.58. The sale was disclosed in a filing with the SEC, which is available at 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 completion of the sale, the senior vice president now owns 20,126 shares of the company’s stock, valued at $1,852,799.56. The disclosure for this sale can be found here. 10.00% of the stock is owned by 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.