Dorman Products (NASDAQ:DORM) Posts Earnings Results, Beats Estimates By $0.49 EPS

Dorman Products (NASDAQ:DORM) released its quarterly earnings results on Tuesday. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.49, Briefing.com reports. The firm had revenue of $468.70 million for the quarter, compared to analysts’ expectations of $472.35 million. Dorman Products had a net margin of 6.70% and a return on equity of 12.92%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. Dorman Products updated its FY24 guidance to $5.40-5.70 EPS.

Dorman Products Trading Up 1.4 %

Shares of NASDAQ:DORM traded up $1.26 during midday trading on Wednesday, reaching $92.63. 6,234 shares of the company’s stock were exchanged, compared to its average volume of 114,097. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.25 and a quick ratio of 1.09. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.29 and a beta of 0.83. The firm’s 50 day simple moving average is $91.94 and its two-hundred day simple moving average is $83.01. Dorman Products has a fifty-two week low of $60.01 and a fifty-two week high of $98.55.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DORM. Barrington Research reiterated an “outperform” rating and issued a $90.00 target price on shares of Dorman Products in a research report on Tuesday, February 27th. TheStreet upgraded Dorman Products from a “c+” rating to a “b” rating in a research report on Wednesday, March 20th. Roth Mkm reiterated a “buy” rating and set a $116.00 price target on shares of Dorman Products in a research report on Monday, March 25th. Finally, StockNews.com upgraded Dorman Products from a “hold” rating to a “buy” rating in a report on Thursday, March 7th.

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.