Dorman Products (NASDAQ:DORM) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Dorman Products (NASDAQ:DORM) issued its quarterly earnings data on Monday. The auto parts company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08, FiscalAI reports. Dorman Products had a net margin of 10.18% and a return on equity of 19.37%. The firm had revenue of $561.72 million for the quarter, compared to analysts’ expectations of $565.33 million.

Dorman Products Stock Performance

Shares of NASDAQ:DORM traded down $0.50 during mid-day trading on Monday, reaching $124.74. 461,354 shares of the company traded hands, compared to its average volume of 256,908. The company’s 50 day moving average price is $125.94 and its 200-day moving average price is $125.96. The firm has a market cap of $3.70 billion, a PE ratio of 17.28 and a beta of 1.02. Dorman Products has a 52 week low of $98.44 and a 52 week high of $164.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.60 and a quick ratio of 1.73.

Insiders Place Their Bets

In other Dorman Products news, CAO Gregory Bowen sold 3,531 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total value of $512,030.31. Following the completion of the transaction, the chief accounting officer directly owned 5,340 shares in the company, valued at $774,353.40. This represents a 39.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Dorman Products from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Roth Capital reaffirmed a “buy” rating on shares of Dorman Products in a report on Wednesday, August 5th. Wells Fargo & Company decreased their price target on shares of Dorman Products from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Freedom Capital cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.