Dorman Products (NASDAQ:DORM) Issues FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.40-5.70 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Dorman Products from a hold rating to a buy rating in a research report on Thursday, March 7th. Barrington Research reaffirmed an outperform rating and issued a $90.00 target price on shares of Dorman Products in a research note on Tuesday, February 27th. Roth Mkm restated a buy rating and issued a $116.00 price objective on shares of Dorman Products in a research report on Monday, March 25th. Finally, TheStreet raised Dorman Products from a c+ rating to a b rating in a research note on Wednesday, March 20th.

Dorman Products Stock Up 0.3 %

Shares of DORM stock traded up $0.32 during trading hours on Friday, hitting $92.52. 3,074 shares of the company were exchanged, compared to its average volume of 115,293. The company has a market capitalization of $2.87 billion, a PE ratio of 22.49 and a beta of 0.83. Dorman Products has a 52 week low of $60.01 and a 52 week high of $98.55. The business has a 50 day moving average of $91.86 and a two-hundred day moving average of $83.13. 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 (NASDAQ:DORM) last announced its earnings results on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.49. The business had revenue of $468.70 million for the quarter, compared to analyst estimates of $472.35 million. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. 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. Analysts anticipate that Dorman Products will post 5.55 earnings per share for the current fiscal year.

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.