Dorman Products (NASDAQ:DORM) Updates FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.40-5.70 for the period, compared to the consensus earnings per share 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 Price Performance

NASDAQ:DORM traded up $0.12 during trading hours on Thursday, hitting $91.35. 28,753 shares of the stock were exchanged, compared to its average volume of 114,170. Dorman Products has a 52-week low of $60.01 and a 52-week high of $98.55. The firm’s fifty day moving average price is $91.90 and its 200 day moving average price is $83.06. The company has a current ratio of 2.25, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.83 billion, a P/E ratio of 22.58 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, May 7th. The auto parts company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.82 by $0.49. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. The company had revenue of $468.70 million during the quarter, compared to analyst estimates of $472.35 million. During the same period in the previous year, the business earned $0.56 EPS. Dorman Products’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities research analysts anticipate that Dorman Products will post 5.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DORM has been the subject of a number of analyst reports. StockNews.com upgraded Dorman Products from a hold rating to a buy rating in a research report on Thursday, March 7th. Barrington Research restated an outperform rating and issued a $90.00 price target 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. Finally, Roth Mkm reiterated a buy rating and issued a $116.00 price objective on shares of Dorman Products in a research report on Monday, March 25th.

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.