Dorman Products (NASDAQ:DORM) Updates FY22 Earnings Guidance

Dorman Products (NASDAQ:DORMGet Rating) issued an update on its FY22 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.35-5.55 for the period, compared to the Thomson Reuters consensus estimate of $5.49. The company issued revenue guidance of $1.60-1.64 billion, compared to the consensus revenue estimate of $1.62 billion.Dorman Products also updated its FY 2022 guidance to $5.350-$5.550 EPS.

Shares of NASDAQ DORM opened at $93.93 on Monday. Dorman Products has a one year low of $88.43 and a one year high of $122.96. The firm has a market capitalization of $2.96 billion, a PE ratio of 22.80 and a beta of 0.77. The business has a 50-day moving average price of $95.33 and a two-hundred day moving average price of $102.27.

Dorman Products (NASDAQ:DORMGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The auto parts company reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.02). Dorman Products had a return on equity of 16.42% and a net margin of 9.78%. The business had revenue of $398.18 million for the quarter, compared to analyst estimates of $367.44 million. During the same quarter in the previous year, the business posted $1.19 earnings per share. The company’s revenue was up 32.2% compared to the same quarter last year. On average, equities research analysts forecast that Dorman Products will post 5.49 EPS for the current fiscal year.

DORM has been the subject of a number of research reports. StockNews.com upgraded Dorman Products from a hold rating to a buy rating in a research report on Tuesday, April 5th. Barrington Research upgraded Dorman Products from a market perform rating to an outperform rating and set a $120.00 price objective for the company in a research report on Tuesday, February 22nd. Finally, Zacks Investment Research lowered Dorman Products from a buy rating to a hold rating in a report on Thursday, February 24th.

A number of institutional investors and hedge funds have recently bought and sold shares of DORM. Morgan Stanley increased its position in Dorman Products by 16.7% in 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. LPL Financial LLC increased its position in Dorman Products by 56.7% in the 3rd quarter. LPL Financial LLC now owns 6,975 shares of the auto parts company’s stock worth $679,000 after buying an additional 2,524 shares during the period. Janus Henderson Group PLC bought a new position in Dorman Products in the 3rd quarter worth approximately $276,000. JPMorgan Chase & Co. increased its position in Dorman Products by 60.2% in the 4th quarter. JPMorgan Chase & Co. now owns 54,005 shares of the auto parts company’s stock worth $6,103,000 after buying an additional 20,293 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Dorman Products by 47.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 57,540 shares of the auto parts company’s stock worth $6,502,000 after buying an additional 18,436 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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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Earnings History and Estimates for Dorman Products (NASDAQ:DORM)

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