Zacks: Analysts Anticipate Dorman Products, Inc. (NASDAQ:DORM) Will Post Quarterly Sales of $235.13 Million
Analysts predict that Dorman Products, Inc. (NASDAQ:DORM) will report $235.13 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Dorman Products’ earnings, with the lowest sales estimate coming in at $231.94 million and the highest estimate coming in at $238.32 million. Dorman Products reported sales of $212.79 million during the same quarter last year, which indicates a positive year over year growth rate of 10.5%. The firm is expected to announce its next earnings results on Monday, October 23rd.
On average, analysts expect that Dorman Products will report full year sales of $235.13 million for the current fiscal year, with estimates ranging from $924.52 million to $932.05 million. For the next year, analysts anticipate that the business will report sales of $994.16 million per share, with estimates ranging from $993.04 million to $995.27 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Dorman Products.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $229.26 million for the quarter, compared to analysts’ expectations of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share.
Several equities research analysts recently weighed in on DORM shares. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Monday, June 26th. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a report on Wednesday. B. Riley reaffirmed a “neutral” rating and set a $74.50 price target on shares of Dorman Products in a report on Saturday, May 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 price target (up from $78.00) on shares of Dorman Products in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Dorman Products has an average rating of “Hold” and an average price target of $81.25.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DORM. Motley Fool Asset Management LLC acquired a new position in Dorman Products during the first quarter valued at about $2,952,000. Tributary Capital Management LLC boosted its position in Dorman Products by 11.1% in the first quarter. Tributary Capital Management LLC now owns 218,115 shares of the auto parts company’s stock valued at $17,914,000 after buying an additional 21,722 shares during the last quarter. Norges Bank acquired a new position in Dorman Products during the fourth quarter valued at about $14,761,000. Schwab Charles Investment Management Inc. boosted its position in Dorman Products by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 152,936 shares of the auto parts company’s stock valued at $12,561,000 after buying an additional 11,605 shares during the last quarter. Finally, Paradice Investment Management LLC boosted its position in Dorman Products by 67.8% in the first quarter. Paradice Investment Management LLC now owns 86,742 shares of the auto parts company’s stock valued at $7,124,000 after buying an additional 35,040 shares during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.
Dorman Products (NASDAQ:DORM) opened at 74.17 on Friday. Dorman Products has a 12-month low of $60.00 and a 12-month high of $88.50. The stock’s 50 day moving average is $77.39 and its 200 day moving average is $78.45. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 22.54 and a beta of 0.61.
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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