Wall Street brokerages expect Dorman Products Inc. (NASDAQ:DORM) to report earnings per share of $1.04 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Dorman Products’ earnings. The highest EPS estimate is $1.05 and the lowest is $1.03. Dorman Products posted earnings of $0.80 per share in the same quarter last year, which would suggest a positive year over year growth rate of 30%. The business is expected to report its next earnings results on Friday, October 26th.
On average, analysts expect that Dorman Products will report full-year earnings of $4.19 per share for the current year, with EPS estimates ranging from $4.15 to $4.25. For the next financial year, analysts forecast that the company will report earnings of $4.57 per share, with EPS estimates ranging from $4.47 to $4.68. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Dorman Products.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Dorman Products had a net margin of 12.42% and a return on equity of 19.13%. The firm had revenue of $238.15 million during the quarter, compared to analysts’ expectations of $244.87 million. During the same period last year, the business earned $0.84 earnings per share. Dorman Products’s revenue was up 3.9% compared to the same quarter last year.
A number of equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Dorman Products from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. ValuEngine upgraded shares of Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Barrington Research reiterated a “hold” rating on shares of Dorman Products in a research report on Thursday, July 12th. Finally, Zacks Investment Research cut shares of Dorman Products from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.50.
In other Dorman Products news, Director Paul R. Lederer sold 3,925 shares of Dorman Products stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $76.60, for a total transaction of $300,655.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffery Darby sold 1,367 shares of Dorman Products stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $76.13, for a total transaction of $104,069.71. Following the sale, the senior vice president now owns 12,639 shares of the company’s stock, valued at $962,207.07. The disclosure for this sale can be found here. 11.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in DORM. NumerixS Investment Technologies Inc boosted its stake in shares of Dorman Products by 1,500.0% in the second quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the auto parts company’s stock valued at $112,000 after purchasing an additional 1,500 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Dorman Products in the second quarter valued at approximately $115,000. Zions Bancorporation purchased a new position in shares of Dorman Products in the first quarter valued at approximately $188,000. Atria Investments LLC purchased a new position in shares of Dorman Products in the first quarter valued at approximately $201,000. Finally, ARGI Investment Services LLC purchased a new position in shares of Dorman Products in the first quarter valued at approximately $209,000. Institutional investors and hedge funds own 76.26% of the company’s stock.
Shares of DORM opened at $78.42 on Thursday. Dorman Products has a 1-year low of $56.36 and a 1-year high of $78.74. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.30 and a beta of 0.93.
About Dorman Products
Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.
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