Dorman Products (NASDAQ:DORM) Issues FY24 Earnings Guidance

Dorman Products (NASDAQ:DORM - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. 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 recently issued reports on the company. Roth Mkm restated a buy rating and set a $116.00 price objective on shares of Dorman Products in a research note on Monday, March 25th. Barrington Research reaffirmed an outperform rating and issued a $90.00 price target on shares of Dorman Products in a report on Tuesday, February 27th. StockNews.com upgraded shares of Dorman Products from a hold rating to a buy rating in a research note on Thursday, March 7th. Finally, TheStreet upgraded Dorman Products from a c+ rating to a b rating in a research note on Wednesday, March 20th.

Dorman Products Stock Performance

DORM stock traded down $1.52 during mid-day trading on Tuesday, reaching $91.37. The company had a trading volume of 151,464 shares, compared to its average volume of 115,376. Dorman Products has a one year low of $60.01 and a one year high of $98.55. The stock has a market capitalization of $2.84 billion, a P/E ratio of 22.29 and a beta of 0.83. The company has a quick ratio of 1.09, a current ratio of 2.25 and a debt-to-equity ratio of 0.40. The stock's 50-day simple moving average is $91.94 and its two-hundred day simple moving average is $83.01.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The auto parts company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.16. Dorman Products had a net margin of 6.70% and a return on equity of 12.92%. The firm had revenue of $494.30 million for the quarter, compared to the consensus estimate of $494.86 million. During the same period last year, the firm posted $1.01 EPS. Dorman Products's quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Dorman Products will post 5.55 EPS for the current 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.