Analysts forecast that Dorman Products Inc. (NASDAQ:DORM) will announce sales of $234.46 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Dorman Products’ earnings, with the highest sales estimate coming in at $234.72 million and the lowest estimate coming in at $234.05 million. Dorman Products posted sales of $224.62 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The firm is expected to issue its next earnings report on Friday, October 26th.
On average, analysts expect that Dorman Products will report full year sales of $945.46 million for the current financial year, with estimates ranging from $939.47 million to $952.90 million. For the next financial year, analysts expect that the firm will report sales of $1.00 billion per share, with estimates ranging from $986.00 million to $1.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Dorman Products.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Tuesday, July 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $238.15 million for the quarter, compared to analysts’ expectations of $244.87 million. Dorman Products had a return on equity of 19.13% and a net margin of 12.42%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS.
DORM has been the topic of a number of research reports. BidaskClub upgraded Dorman Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 19th. Barrington Research reiterated a “hold” rating on shares of Dorman Products in a research report on Thursday, July 12th. Zacks Investment Research upgraded Dorman Products from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Finally, ValuEngine upgraded Dorman Products from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $70.50.
Shares of Dorman Products stock traded up $0.34 on Tuesday, reaching $81.72. 83,081 shares of the company were exchanged, compared to its average volume of 170,612. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.39 and a beta of 1.04. Dorman Products has a 1-year low of $56.36 and a 1-year high of $82.40.
In related news, Director Paul R. Lederer sold 3,925 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $76.60, for a total value of $300,655.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jeffery Darby sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $76.13, for a total value of $104,069.71. Following the completion of the sale, the senior vice president now owns 12,639 shares in the company, valued at $962,207.07. The disclosure for this sale can be found here. 11.90% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of DORM. Principal Financial Group Inc. boosted its stake in Dorman Products by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 228,991 shares of the auto parts company’s stock valued at $15,161,000 after purchasing an additional 3,731 shares in the last quarter. Dupont Capital Management Corp boosted its stake in Dorman Products by 12.6% during the 2nd quarter. Dupont Capital Management Corp now owns 18,744 shares of the auto parts company’s stock valued at $1,280,000 after purchasing an additional 2,092 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in Dorman Products during the 2nd quarter valued at $300,000. Pitcairn Co. bought a new position in Dorman Products during the 1st quarter valued at $227,000. Finally, Royce & Associates LP boosted its stake in Dorman Products by 1.4% during the 2nd quarter. Royce & Associates LP now owns 718,936 shares of the auto parts company’s stock valued at $49,111,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.
Dorman Products Company Profile
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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