Brokerages expect that Dorman Products Inc. (NASDAQ:DORM) will post $246.26 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Dorman Products’ earnings, with estimates ranging from $245.08 million to $247.60 million. Dorman Products reported sales of $229.26 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The company is expected to announce its next earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that Dorman Products will report full-year sales of $963.66 million for the current financial year, with estimates ranging from $958.86 million to $970.62 million. For the next year, analysts forecast that the company will post sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.03 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Dorman Products.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Tuesday, May 1st. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.07). Dorman Products had a return on equity of 18.27% and a net margin of 11.89%. The company had revenue of $227.30 million for the quarter, compared to analysts’ expectations of $233.97 million. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. Barrington Research reiterated a “hold” rating on shares of Dorman Products in a research note on Tuesday, May 1st. ValuEngine lowered shares of Dorman Products from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. BidaskClub lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, Zacks Investment Research lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.50.
Dorman Products stock traded down $0.57 during mid-day trading on Wednesday, reaching $65.36. The company’s stock had a trading volume of 64,723 shares, compared to its average volume of 156,259. Dorman Products has a 12-month low of $56.36 and a 12-month high of $86.32. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.13 and a beta of 0.92.
In other news, Director John J. Gavin purchased 1,536 shares of Dorman Products stock in a transaction dated Monday, May 7th. The stock was purchased at an average cost of $65.23 per share, for a total transaction of $100,193.28. Following the transaction, the director now directly owns 3,395 shares of the company’s stock, valued at $221,455.85. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeffery Darby sold 1,100 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $72.77, for a total transaction of $80,047.00. Following the transaction, the senior vice president now owns 13,488 shares of the company’s stock, valued at $981,521.76. The disclosure for this sale can be found here. 11.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DORM. Schwab Charles Investment Management Inc. grew its position in shares of Dorman Products by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 178,876 shares of the auto parts company’s stock valued at $10,937,000 after purchasing an additional 5,664 shares in the last quarter. Reinhart Partners Inc. purchased a new position in shares of Dorman Products during the 4th quarter valued at $1,307,000. American Capital Management Inc. grew its position in shares of Dorman Products by 6.8% during the 4th quarter. American Capital Management Inc. now owns 330,065 shares of the auto parts company’s stock valued at $20,180,000 after purchasing an additional 20,895 shares in the last quarter. Legato Capital Management LLC grew its position in shares of Dorman Products by 26.3% during the 4th quarter. Legato Capital Management LLC now owns 10,406 shares of the auto parts company’s stock valued at $636,000 after purchasing an additional 2,165 shares in the last quarter. Finally, Washington Capital Management Inc. grew its position in shares of Dorman Products by 18.2% during the 4th quarter. Washington Capital Management Inc. now owns 7,800 shares of the auto parts company’s stock valued at $477,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 75.03% of the company’s stock.
About Dorman Products
Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.
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