Dorman Products, Inc. (DORM) Expected to Announce Quarterly Sales of $235.45 Million
Brokerages predict that Dorman Products, Inc. (NASDAQ:DORM) will announce $235.45 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Dorman Products’ earnings. The highest sales estimate is $235.97 million and the lowest is $234.40 million. Dorman Products reported sales of $229.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The firm is scheduled to report its next earnings report on Wednesday, February 28th.
On average, analysts expect that Dorman Products will report full year sales of $235.45 million for the current fiscal year, with estimates ranging from $909.90 million to $911.47 million. For the next year, analysts anticipate that the business will post sales of $1.01 billion per share, with estimates ranging from $1.00 billion to $1.02 billion. Zacks’ 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 Friday, October 27th. The auto parts company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.07). Dorman Products had a return on equity of 18.32% and a net margin of 12.53%. The company had revenue of $224.60 million for the quarter, compared to analyst estimates of $233.56 million. During the same period last year, the business earned $0.77 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year.
Several equities research analysts recently weighed in on the company. BidaskClub lowered Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, August 18th. FBR & Co reaffirmed a “neutral” rating and set a $65.00 target price (down previously from $75.00) on shares of Dorman Products in a report on Monday, October 30th. B. Riley reaffirmed a “neutral” rating and set a $65.00 target price (down previously from $75.00) on shares of Dorman Products in a report on Wednesday, November 1st. Zacks Investment Research lowered Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $75.00 target price on shares of Dorman Products in a report on Sunday, October 29th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.33.
Several large investors have recently made changes to their positions in DORM. Vanguard Group Inc. increased its position in Dorman Products by 1.0% in the second quarter. Vanguard Group Inc. now owns 2,833,910 shares of the auto parts company’s stock worth $234,562,000 after buying an additional 27,088 shares in the last quarter. Congress Asset Management Co. MA increased its position in Dorman Products by 7.9% in the second quarter. Congress Asset Management Co. MA now owns 1,009,387 shares of the auto parts company’s stock worth $83,547,000 after buying an additional 73,884 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Dorman Products by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 859,092 shares of the auto parts company’s stock worth $61,528,000 after buying an additional 10,520 shares in the last quarter. State Street Corp increased its position in Dorman Products by 5.3% in the second quarter. State Street Corp now owns 684,554 shares of the auto parts company’s stock worth $56,661,000 after buying an additional 34,516 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its position 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 worth $40,959,000 after buying an additional 78,060 shares in the last quarter. 76.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dorman Products (NASDAQ DORM) traded up $0.84 during trading hours on Tuesday, reaching $67.77. The company’s stock had a trading volume of 230,003 shares, compared to its average volume of 157,748. Dorman Products has a fifty-two week low of $62.64 and a fifty-two week high of $88.50. The company has a market cap of $2,259.74, a PE ratio of 20.25, a PEG ratio of 1.83 and a beta of 0.60.
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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