Zacks: Brokerages Expect Dorman Products, Inc. (NASDAQ:DORM) Will Post Quarterly Sales of $373.70 Million

Analysts expect that Dorman Products, Inc. (NASDAQ:DORMGet Rating) will announce $373.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Dorman Products’ earnings, with estimates ranging from $365.78 million to $381.62 million. Dorman Products reported sales of $288.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 29.8%. The business is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Dorman Products will report full-year sales of $1.61 billion for the current financial year, with estimates ranging from $1.61 billion to $1.62 billion. For the next financial year, analysts expect that the company will post sales of $1.70 billion, with estimates ranging from $1.67 billion to $1.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Dorman Products.

Dorman Products (NASDAQ:DORMGet Rating) last issued its earnings results on Tuesday, February 22nd. The auto parts company reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.02). The business had revenue of $398.18 million during the quarter, compared to analyst estimates of $367.44 million. Dorman Products had a return on equity of 16.42% and a net margin of 9.78%. The business’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS.

A number of equities research analysts recently commented on DORM shares. Barrington Research upgraded Dorman Products from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, February 22nd. StockNews.com upgraded Dorman Products from a “hold” rating to a “buy” rating in a research report on Tuesday, April 5th. Finally, Zacks Investment Research lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th.

A number of institutional investors have recently modified their holdings of DORM. Morgan Stanley raised its stake in Dorman Products by 16.7% during the 2nd quarter. Morgan Stanley now owns 112,851 shares of the auto parts company’s stock worth $11,699,000 after buying an additional 16,159 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Dorman Products by 10.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 27,621 shares of the auto parts company’s stock worth $2,615,000 after buying an additional 2,643 shares during the period. Maryland State Retirement & Pension System acquired a new stake in Dorman Products during the 3rd quarter worth $1,116,000. SG Americas Securities LLC raised its stake in shares of Dorman Products by 1,760.7% in the 3rd quarter. SG Americas Securities LLC now owns 32,636 shares of the auto parts company’s stock valued at $3,090,000 after purchasing an additional 30,882 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Dorman Products by 41.0% in the 3rd quarter. Victory Capital Management Inc. now owns 7,465 shares of the auto parts company’s stock valued at $707,000 after purchasing an additional 2,172 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Dorman Products stock opened at $95.93 on Thursday. The business’s 50-day simple moving average is $95.20 and its 200-day simple moving average is $102.23. The firm has a market capitalization of $3.03 billion, a PE ratio of 23.28 and a beta of 0.77. Dorman Products has a 52 week low of $88.43 and a 52 week high of $122.96.

About Dorman Products (Get Rating)

Dorman Products, Inc supplies replacement parts and fasteners for passenger cars, light trucks, and medium- and heavy-duty trucks in the automotive aftermarket industry worldwide. It offers original equipment dealer products, such as intake and 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 oil drain plugs, and wheel bolts and lug nuts.

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