Dorman Products (NASDAQ:DORM) Releases Earnings Results, Beats Expectations By $0.49 EPS

Dorman Products (NASDAQ:DORM) released its quarterly earnings data on Tuesday. The auto parts company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.49, Briefing.com reports. The business had revenue of $468.70 million for the quarter, compared to analysts’ expectations of $472.35 million. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. Dorman Products’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Dorman Products updated its FY24 guidance to $5.40-5.70 EPS.

Dorman Products Price Performance

Shares of NASDAQ DORM opened at $91.37 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.25 and a quick ratio of 1.09. The business has a 50-day moving average of $91.94 and a 200-day moving average of $83.01. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 22.29 and a beta of 0.83. Dorman Products has a fifty-two week low of $60.01 and a fifty-two week high of $98.55.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $90.00 price objective on shares of Dorman Products in a research report on Tuesday, February 27th. TheStreet raised Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th. Roth Mkm reaffirmed a “buy” rating and set a $116.00 price objective on shares of Dorman Products in a research report on Monday, March 25th. Finally, StockNews.com raised Dorman Products from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th.

Dorman Products Company Profile

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.