Dorman Products (NASDAQ:DORM) Releases FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.40-5.70 for the period, compared to the consensus estimate of $5.55. The company issued revenue guidance of +3-5% yr/yr to ~$1.99-2.03 billion, compared to the consensus revenue estimate of $2.00 billion.

Dorman Products Price Performance

Dorman Products stock traded up $0.32 during mid-day trading on Friday, hitting $92.52. 3,074 shares of the company traded hands, compared to its average volume of 115,293. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 2.25. Dorman Products has a one year low of $60.01 and a one year high of $98.55. The stock has a fifty day moving average price of $91.86 and a 200-day moving average price of $83.13.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Tuesday, May 7th. The auto parts company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.82 by $0.49. The firm had revenue of $468.70 million during the quarter, compared to the consensus estimate of $472.35 million. Dorman Products had a net margin of 6.70% and a return on equity of 12.92%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. On average, equities analysts predict that Dorman Products will post 5.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DORM has been the topic of several research analyst reports. TheStreet raised Dorman Products from a c+ rating to a b rating in a research note on Wednesday, March 20th. 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. StockNews.com raised shares of Dorman Products from a hold rating to a buy rating in a research note on Thursday, March 7th. Finally, Barrington Research reaffirmed an outperform rating and set a $90.00 price objective on shares of Dorman Products in a research report on Tuesday, February 27th.

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.