Dorman Products (NASDAQ:DORM) Issues Earnings Results

Dorman Products (NASDAQ:DORMGet Rating) announced its quarterly earnings data on Monday. The auto parts company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.08, MarketWatch Earnings reports. Dorman Products had a net margin of 9.78% and a return on equity of 16.42%. The business had revenue of $401.60 million for the quarter, compared to analyst estimates of $371.84 million. During the same period last year, the business earned $1.04 EPS. The company’s revenue was up 39.4% on a year-over-year basis. Dorman Products updated its FY 2022 guidance to $5.350-$5.550 EPS and its FY22 guidance to $5.35-5.55 EPS.

Shares of NASDAQ DORM traded down $2.48 during mid-day trading on Monday, reaching $91.45. The company had a trading volume of 1,313 shares, compared to its average volume of 110,473. The firm has a 50 day simple moving average of $95.33 and a two-hundred day simple moving average of $102.27. The stock has a market cap of $2.88 billion, a P/E ratio of 22.80 and a beta of 0.77. Dorman Products has a 52-week low of $88.43 and a 52-week high of $122.96.

A number of institutional investors have recently modified their holdings of DORM. Morgan Stanley lifted its stake in shares of Dorman Products by 16.7% in the second quarter. Morgan Stanley now owns 112,851 shares of the auto parts company’s stock valued at $11,699,000 after purchasing an additional 16,159 shares during the period. LPL Financial LLC lifted its stake in shares of Dorman Products by 56.7% in the third quarter. LPL Financial LLC now owns 6,975 shares of the auto parts company’s stock valued at $679,000 after purchasing an additional 2,524 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Dorman Products in the third quarter valued at about $276,000. JPMorgan Chase & Co. lifted its stake in shares of Dorman Products by 60.2% in the fourth quarter. JPMorgan Chase & Co. now owns 54,005 shares of the auto parts company’s stock valued at $6,103,000 after purchasing an additional 20,293 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Dorman Products by 47.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 57,540 shares of the auto parts company’s stock valued at $6,502,000 after purchasing an additional 18,436 shares during the period. 80.84% of the stock is currently owned by institutional investors.

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

Dorman Products Company Profile (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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Earnings History for Dorman Products (NASDAQ:DORM)

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