Dorman Products (NASDAQ:DORM) Releases Earnings Results

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

Dorman Products Trading Down 0.4%

Dorman Products stock traded down $0.50 during trading hours on Monday, hitting $124.74. The stock had a trading volume of 461,324 shares, compared to its average volume of 256,908. The company has a quick ratio of 1.73, a current ratio of 3.60 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 17.28 and a beta of 1.02. Dorman Products has a one year low of $98.44 and a one year high of $164.00. The business’s 50 day simple moving average is $125.94 and its 200-day simple moving average is $125.96.

Insider Activity at Dorman Products

In other news, CAO Gregory Bowen sold 3,531 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $145.01, for a total transaction of $512,030.31. Following the sale, the chief accounting officer directly owned 5,340 shares in the company, valued at approximately $774,353.40. The trade was a 39.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Dorman Products

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.