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

Dorman Products (NASDAQ:DORM) announced its 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. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. The business had revenue of $468.70 million for the quarter, compared to analyst estimates of $472.35 million. Dorman Products’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. Dorman Products updated its FY24 guidance to $5.40-5.70 EPS.

Dorman Products Price Performance

Dorman Products stock opened at $92.20 on Friday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 22.49 and a beta of 0.83. 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 12 month low of $60.01 and a 12 month high of $98.55. The stock’s 50 day moving average is $91.86 and its 200-day moving average is $83.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. TheStreet raised shares of Dorman Products from a “c+” rating to a “b” rating in a research report on Wednesday, March 20th. Barrington Research restated an “outperform” rating and issued a $90.00 price objective on shares of Dorman Products in a report on Tuesday, February 27th. Roth Mkm reissued 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 raised Dorman Products from a “hold” rating to a “buy” rating in a research 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.