Dorman Products (NASDAQ:DORM) Posts Earnings Results

Key Points

• Dorman Products reported adjusted earnings of $2.08 per share, beating analyst expectations of $2.00, while quarterly revenue of $561.72 million fell short of the $565.33 million consensus estimate.
• The stock declined 0.4% to $124.74 following the results. Dorman Products has a $3.70 billion market capitalization and trades at a price-to-earnings ratio of 17.28.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $147.50; Wells Fargo recently lowered its target to $150 while retaining an Overweight rating.

Dorman Products (NASDAQ:DORM - Get Free Report) issued its earnings results on Monday. The auto parts company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08, FiscalAI reports. Dorman Products had a return on equity of 19.37% and a net margin of 10.18%. The business had revenue of $561.72 million for the quarter, compared to analyst estimates of $565.33 million.

Dorman Products Stock Down 0.4%

NASDAQ DORM traded down $0.50 during trading hours on Monday, hitting $124.74. The company had a trading volume of 461,324 shares, compared to its average volume of 256,908. Dorman Products has a fifty-two week low of $98.44 and a fifty-two week high of $164.00. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.60 and a quick ratio of 1.73. The firm's 50 day moving average is $125.94 and its 200 day moving average is $125.96.

Insider Activity at Dorman Products

In other Dorman Products news, CAO Gregory Bowen sold 3,531 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $145.01, for a total transaction of $512,030.31. Following the transaction, the chief accounting officer owned 5,340 shares in the company, valued at $774,353.40. The trade was a 39.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DORM shares. Weiss Ratings upgraded Dorman Products from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Freedom Capital downgraded Dorman Products from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Roth Capital reaffirmed a "buy" rating on shares of Dorman Products in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company decreased their target price on Dorman Products from $160.00 to $150.00 and set an "overweight" rating for the company in a report on Friday. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Dorman Products currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.50.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.

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