Wall Street analysts forecast that Dorman Products Inc. (NASDAQ:DORM) will announce sales of $234.46 million for the current quarter, Zacks reports. Three analysts have issued estimates for Dorman Products’ earnings, with the highest sales estimate coming in at $234.72 million and the lowest estimate coming in at $234.05 million. Dorman Products reported sales of $224.62 million in the same quarter last year, which indicates a positive year over year growth rate of 4.4%. The company is expected to issue its next earnings results after the market closes on Friday, October 26th.
On average, analysts expect that Dorman Products will report full-year sales of $945.46 million for the current fiscal year, with estimates ranging from $939.47 million to $952.90 million. For the next fiscal year, analysts anticipate that the business will post sales of $1.00 billion, with estimates ranging from $986.00 million to $1.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Dorman Products.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $238.15 million for the quarter, compared to analysts’ expectations of $244.87 million. Dorman Products had a net margin of 12.42% and a return on equity of 19.13%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share.
A number of research analysts recently issued reports on DORM shares. BidaskClub raised shares of Dorman Products from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. ValuEngine raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Barrington Research reissued a “hold” rating on shares of Dorman Products in a research note on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $59.60.
NASDAQ:DORM traded up $0.76 during mid-day trading on Monday, reaching $67.42. The stock had a trading volume of 171,482 shares, compared to its average volume of 167,672. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.31 and a beta of 1.07. Dorman Products has a 12 month low of $56.36 and a 12 month high of $83.42.
In other Dorman Products news, SVP Jeffery Darby sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $76.13, for a total value of $104,069.71. Following the sale, the senior vice president now owns 12,639 shares in the company, valued at $962,207.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul R. Lederer sold 3,925 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $76.60, for a total transaction of $300,655.00. The disclosure for this sale can be found here. Insiders sold 24,278 shares of company stock worth $1,949,046 in the last 90 days. Company insiders own 11.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of DORM. OppenheimerFunds Inc. boosted its position in Dorman Products by 2,958.9% in the first quarter. OppenheimerFunds Inc. now owns 326,602 shares of the auto parts company’s stock valued at $21,624,000 after buying an additional 315,925 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Dorman Products by 7.9% during the second quarter. BlackRock Inc. now owns 3,916,088 shares of the auto parts company’s stock worth $267,506,000 after purchasing an additional 288,155 shares during the period. Paradice Investment Management LLC lifted its holdings in shares of Dorman Products by 90.4% during the second quarter. Paradice Investment Management LLC now owns 404,917 shares of the auto parts company’s stock worth $27,660,000 after purchasing an additional 192,266 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Dorman Products by 29.0% during the second quarter. Epoch Investment Partners Inc. now owns 605,614 shares of the auto parts company’s stock worth $41,369,000 after purchasing an additional 136,218 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Dorman Products by 16.1% during the second quarter. Janus Henderson Group PLC now owns 796,579 shares of the auto parts company’s stock worth $54,414,000 after purchasing an additional 110,326 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Dorman Products Company Profile
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.
Featured Article: What is insider trading?
Get a free copy of the Zacks research report on Dorman Products (DORM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dorman Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products and related companies with MarketBeat.com's FREE daily email newsletter.