Dorman Products, Inc. Forecasted to Earn Q2 2023 Earnings of $1.29 Per Share (NASDAQ:DORM)

Posted by on May 5th, 2023

Dorman Products, Inc. (NASDAQ:DORM – Get Rating) – Equities researchers at Barrington Research reduced their Q2 2023 EPS estimates for shares of Dorman Products in a research note issued on Tuesday, May 2nd. Barrington Research analyst G. Prestopino now forecasts that the auto parts company will post earnings of $1.29 per share for the quarter, down from their previous forecast of $1.31. The consensus estimate for Dorman Products’ current full-year earnings is $5.20 per share. Barrington Research also issued estimates for Dorman Products’ Q2 2024 earnings at $1.40 EPS and Q3 2024 earnings at $1.65 EPS.

Dorman Products (NASDAQ:DORM – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The auto parts company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.38). Dorman Products had a net margin of 7.01% and a return on equity of 14.96%. The business had revenue of $466.74 million during the quarter, compared to analysts’ expectations of $487.43 million. During the same quarter last year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on DORM. Stephens upped their price target on shares of Dorman Products from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 2nd. Roth Capital reissued a “buy” rating on shares of Dorman Products in a research note on Tuesday, February 28th. TheStreet cut shares of Dorman Products from a “b-” rating to a “c+” rating in a research note on Wednesday. Finally, StockNews.com initiated coverage on shares of Dorman Products in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $111.67.

Dorman Products Stock Performance

NASDAQ:DORM opened at $84.84 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.87 and a debt-to-equity ratio of 0.46. Dorman Products has a fifty-two week low of $73.32 and a fifty-two week high of $119.04. The stock has a market cap of $2.67 billion, a PE ratio of 22.04 and a beta of 0.56. The firm’s fifty day simple moving average is $85.18 and its 200-day simple moving average is $86.62.

Hedge Funds Weigh In On Dorman Products

A number of institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Dorman Products during the 2nd quarter valued at about $26,000. Ellevest Inc. lifted its holdings in Dorman Products by 13,425.0% in the 3rd quarter. Ellevest Inc. now owns 541 shares of the auto parts company’s stock worth $44,000 after purchasing an additional 537 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Dorman Products by 103.2% in the 3rd quarter. Bessemer Group Inc. now owns 565 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 287 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Dorman Products by 49.2% during the third quarter. Quadrant Capital Group LLC now owns 619 shares of the auto parts company’s stock worth $51,000 after buying an additional 204 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Dorman Products by 35.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 739 shares of the auto parts company’s stock worth $60,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 75.21% of the company’s stock.

Insider Transactions at Dorman Products

In other Dorman Products news, Chairman Steven L. Berman sold 3,616 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $90.62, for a total value of $327,681.92. Following the sale, the chairman now directly owns 996,764 shares in the company, valued at $90,326,753.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Steven L. Berman sold 3,616 shares of Dorman Products stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $90.62, for a total transaction of $327,681.92. Following the sale, the chairman now directly owns 996,764 shares in the company, valued at $90,326,753.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffery Darby sold 753 shares of Dorman Products stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $91.04, for a total transaction of $68,553.12. Following the sale, the senior vice president now owns 24,054 shares in the company, valued at $2,189,876.16. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company’s stock.

Dorman Products Company Profile

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Dorman Products, Inc engages in the supply of automotive replacement and upgrade parts for the motor vehicle aftermarket industry. Its products include automotive body, steering and suspension, undercar, underhood, hardware and accessories, and heavy-duty components. The company was founded by Steven L.

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Earnings History and Estimates for Dorman Products (NASDAQ:DORM)

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