Dorman Products (NASDAQ:DORM) Issues 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 Stock Performance

NASDAQ DORM traded down $0.17 on Wednesday, reaching $91.20. 63,305 shares of the stock were exchanged, compared to its average volume of 114,714. The company has a current ratio of 2.25, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Dorman Products has a one year low of $60.01 and a one year high of $98.55. The firm has a market capitalization of $2.83 billion, a PE ratio of 22.29 and a beta of 0.83. The company’s 50-day simple moving average is $91.94 and its two-hundred day simple moving average is $83.01.

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

Analyst Ratings Changes

A number of research analysts have recently commented on DORM shares. TheStreet upgraded Dorman Products from a c+ rating to a b rating in a research report on Wednesday, March 20th. Roth Mkm restated a buy rating and set a $116.00 price target on shares of Dorman Products in a report on Monday, March 25th. Barrington Research reissued an outperform rating and set a $90.00 price target on shares of Dorman Products in a research report on Tuesday, February 27th. Finally, StockNews.com raised Dorman Products from a hold rating to a buy rating in a report on Thursday, March 7th.

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.