Dorman Products, Inc. (DORM) Expected to Post Quarterly Sales of $234.39 Million

Equities analysts predict that Dorman Products, Inc. (NASDAQ:DORM) will post sales of $234.39 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Dorman Products’ earnings. The highest sales estimate is $235.00 million and the lowest is $233.26 million. Dorman Products posted sales of $221.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, May 1st.

According to Zacks, analysts expect that Dorman Products will report full year sales of $965.66 million for the current year, with estimates ranging from $955.77 million to $971.01 million. For the next year, analysts anticipate that the company will post sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Dorman Products.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Monday, February 26th. The auto parts company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Dorman Products had a net margin of 11.80% and a return on equity of 18.14%. The firm had revenue of $227.72 million during the quarter, compared to analysts’ expectations of $234.58 million. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue was down .6% on a year-over-year basis.

DORM has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Dorman Products from a “sell” rating to a “hold” rating in a research report on Monday, January 1st. CL King upgraded shares of Dorman Products from a “neutral” rating to a “strong-buy” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Dorman Products from a “strong sell” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Barrington Research reiterated a “hold” rating on shares of Dorman Products in a research report on Tuesday, February 27th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.50.

NASDAQ DORM traded down $0.89 on Wednesday, hitting $66.38. The company’s stock had a trading volume of 127,587 shares, compared to its average volume of 159,232. Dorman Products has a 1-year low of $60.93 and a 1-year high of $88.50. The stock has a market cap of $2,260.26, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91.

In other news, SVP Jeffery Darby sold 1,100 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $72.77, for a total transaction of $80,047.00. Following the completion of the sale, the senior vice president now directly owns 13,488 shares in the company, valued at $981,521.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 11.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund grew its holdings in Dorman Products by 10.3% in the third quarter. New York State Common Retirement Fund now owns 40,720 shares of the auto parts company’s stock worth $2,916,000 after purchasing an additional 3,795 shares during the period. Legal & General Group Plc grew its holdings in Dorman Products by 3.0% in the third quarter. Legal & General Group Plc now owns 59,009 shares of the auto parts company’s stock worth $4,226,000 after purchasing an additional 1,744 shares during the period. JPMorgan Chase & Co. grew its holdings in Dorman Products by 436.4% in the third quarter. JPMorgan Chase & Co. now owns 123,021 shares of the auto parts company’s stock worth $8,804,000 after purchasing an additional 100,087 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Dorman Products by 9.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 173,212 shares of the auto parts company’s stock worth $12,406,000 after purchasing an additional 14,697 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Dorman Products by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 859,092 shares of the auto parts company’s stock worth $61,528,000 after purchasing an additional 10,520 shares during the period. Institutional investors own 75.16% of the company’s stock.

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About Dorman Products

Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.

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