Brokerages forecast that Dorman Products Inc. (NASDAQ:DORM) will report $0.89 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Dorman Products’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.94. Dorman Products posted earnings per share of $1.06 during the same quarter last year, which would suggest a negative year-over-year growth rate of 16%. The company is scheduled to report its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Dorman Products will report full year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.26 to $3.40. For the next year, analysts expect that the business will report earnings of $4.34 per share, with EPS estimates ranging from $3.86 to $4.67. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Dorman Products.
Dorman Products (NASDAQ:DORM) last released its earnings results on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.48). The company had revenue of $254.18 million during the quarter, compared to analyst estimates of $263.68 million. Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. Dorman Products’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS.
DORM has been the topic of a number of recent research reports. Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a research report on Monday, July 29th. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. Zacks Investment Research raised Dorman Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, ValuEngine downgraded Dorman Products from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $97.00.
Shares of NASDAQ:DORM traded up $1.31 during midday trading on Friday, reaching $80.87. The company had a trading volume of 2,121 shares, compared to its average volume of 171,198. The business’s 50 day moving average price is $76.65 and its 200 day moving average price is $82.33. The stock has a market cap of $2.52 billion, a PE ratio of 19.31, a P/E/G ratio of 1.84 and a beta of 0.55. Dorman Products has a 1-year low of $65.68 and a 1-year high of $97.38.
A number of hedge funds and other institutional investors have recently made changes to their positions in DORM. Bridge City Capital LLC boosted its position in Dorman Products by 0.5% during the 2nd quarter. Bridge City Capital LLC now owns 24,950 shares of the auto parts company’s stock worth $2,174,000 after acquiring an additional 123 shares during the period. Zions Bancorporation N.A. boosted its position in Dorman Products by 5.7% during the 2nd quarter. Zions Bancorporation N.A. now owns 2,858 shares of the auto parts company’s stock worth $249,000 after acquiring an additional 155 shares during the period. LPL Financial LLC boosted its position in Dorman Products by 5.0% during the 2nd quarter. LPL Financial LLC now owns 3,531 shares of the auto parts company’s stock worth $309,000 after acquiring an additional 169 shares during the period. Arizona State Retirement System boosted its position in Dorman Products by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 44,961 shares of the auto parts company’s stock worth $3,918,000 after acquiring an additional 170 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Dorman Products by 2.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,690 shares of the auto parts company’s stock valued at $757,000 after buying an additional 170 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
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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