Equities research analysts forecast that Dorman Products, Inc. (NASDAQ:DORM) will post earnings per share (EPS) of $0.86 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Dorman Products’ earnings, with estimates ranging from $0.85 to $0.88. Dorman Products posted earnings per share of $0.83 in the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The company is expected to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Dorman Products will report full year earnings of $3.34 per share for the current fiscal year, with EPS estimates ranging from $3.32 to $3.35. For the next year, analysts anticipate that the business will post earnings of $3.79 per share, with EPS estimates ranging from $3.78 to $3.79. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Dorman Products.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Friday, October 27th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.07). The business had revenue of $224.60 million for the quarter, compared to analyst estimates of $233.56 million. Dorman Products had a return on equity of 18.32% and a net margin of 12.53%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share.
Several equities analysts have weighed in on DORM shares. Zacks Investment Research raised Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Jefferies Group reiterated a “hold” rating and issued a $75.00 price objective on shares of Dorman Products in a research note on Sunday, October 29th. FBR & Co reiterated a “neutral” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a research note on Monday, October 30th. B. Riley reiterated a “neutral” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a research note on Wednesday, November 1st. Finally, BidaskClub cut Dorman Products from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Dorman Products has an average rating of “Hold” and an average target price of $68.33.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Dorman Products by 1.0% during the second quarter. Vanguard Group Inc. now owns 2,833,910 shares of the auto parts company’s stock worth $234,562,000 after purchasing an additional 27,088 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Dorman Products by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 859,092 shares of the auto parts company’s stock worth $61,528,000 after purchasing an additional 10,520 shares during the last quarter. State Street Corp lifted its stake in Dorman Products by 5.3% during the second quarter. State Street Corp now owns 684,554 shares of the auto parts company’s stock worth $56,661,000 after purchasing an additional 34,516 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Dorman Products by 15.8% in the third quarter. Conestoga Capital Advisors LLC now owns 571,900 shares of the auto parts company’s stock valued at $40,959,000 after buying an additional 78,060 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Dorman Products by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 549,328 shares of the auto parts company’s stock valued at $45,468,000 after buying an additional 6,474 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.
Shares of Dorman Products (NASDAQ DORM) traded down $1.62 during trading hours on Tuesday, hitting $61.58. The company had a trading volume of 159,400 shares, compared to its average volume of 167,392. The firm has a market cap of $2,113.72, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.60. Dorman Products has a 1 year low of $61.32 and a 1 year high of $88.50.
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About Dorman Products
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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