Equities analysts forecast that Dorman Products Inc. (NASDAQ:DORM) will post $270.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Dorman Products’ earnings, with estimates ranging from $265.31 million to $273.99 million. Dorman Products posted sales of $247.95 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.2%. The company is expected to report its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Dorman Products will report full year sales of $1.05 billion for the current year, with estimates ranging from $1.04 billion to $1.06 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.12 billion, with estimates ranging from $1.10 billion to $1.14 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Dorman Products.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.48). The business had revenue of $254.18 million for the quarter, compared to analysts’ expectations of $263.68 million. Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share.
Several large investors have recently bought and sold shares of DORM. Invesco Ltd. lifted its position in shares of Dorman Products by 355.2% in the 2nd quarter. Invesco Ltd. now owns 343,569 shares of the auto parts company’s stock worth $29,938,000 after purchasing an additional 268,090 shares during the period. Morgan Stanley lifted its position in Dorman Products by 262.6% during the 2nd quarter. Morgan Stanley now owns 165,496 shares of the auto parts company’s stock valued at $14,422,000 after acquiring an additional 119,850 shares during the period. Nuveen Asset Management LLC purchased a new position in Dorman Products during the 2nd quarter valued at about $10,195,000. Eaton Vance Management purchased a new position in Dorman Products during the 2nd quarter valued at about $9,827,000. Finally, Anchor Capital Advisors LLC lifted its position in Dorman Products by 42.7% during the 1st quarter. Anchor Capital Advisors LLC now owns 264,294 shares of the auto parts company’s stock valued at $23,282,000 after acquiring an additional 79,052 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.
Shares of DORM stock opened at $81.99 on Thursday. The stock has a market capitalization of $2.70 billion, a P/E ratio of 19.52, a PEG ratio of 1.98 and a beta of 0.57. The firm’s 50 day moving average is $73.66 and its 200 day moving average is $82.73. Dorman Products has a 12 month low of $65.68 and a 12 month high of $97.38.
Dorman Products Company Profile
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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