Dorman Products FY2024 EPS Forecast Boosted by Roth Capital

Dorman Products, Inc. (NASDAQ:DORM) – Investment analysts at Roth Capital upped their FY2024 earnings estimates for Dorman Products in a research note issued to investors on Monday, November 4th. Roth Capital analyst S. Stember now forecasts that the auto parts company will earn $6.95 per share for the year, up from their previous forecast of $6.20. The consensus estimate for Dorman Products’ current full-year earnings is $6.90 per share. Roth Capital also issued estimates for Dorman Products’ Q4 2024 earnings at $2.03 EPS, Q4 2025 earnings at $2.15 EPS, FY2025 earnings at $7.62 EPS and FY2026 earnings at $8.50 EPS.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.43. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The business had revenue of $503.77 million during the quarter, compared to analysts’ expectations of $509.54 million. During the same period in the prior year, the company earned $1.40 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year.

A number of other brokerages have also recently commented on DORM. CJS Securities initiated coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a report on Monday. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Dorman Products currently has an average rating of “Buy” and an average price target of $125.67.

Dorman Products Price Performance

Shares of NASDAQ:DORM opened at $136.92 on Wednesday. The company has a 50-day simple moving average of $115.02 and a 200-day simple moving average of $102.42. Dorman Products has a one year low of $66.07 and a one year high of $146.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 22.90 and a beta of 0.83.

Institutional Trading of Dorman Products

Several large investors have recently modified their holdings of the business. Seizert Capital Partners LLC grew its position in shares of Dorman Products by 37.0% in the third quarter. Seizert Capital Partners LLC now owns 45,836 shares of the auto parts company’s stock valued at $5,185,000 after purchasing an additional 12,367 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Dorman Products by 12.5% in the third quarter. Natixis Advisors LLC now owns 27,482 shares of the auto parts company’s stock valued at $3,109,000 after purchasing an additional 3,049 shares during the last quarter. Royce & Associates LP grew its position in shares of Dorman Products by 17.6% in the third quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company’s stock valued at $59,262,000 after purchasing an additional 78,496 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Dorman Products in the third quarter valued at approximately $327,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Dorman Products by 41.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company’s stock valued at $1,548,000 after purchasing an additional 3,993 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Scott Leff sold 5,536 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $132.66, for a total transaction of $734,405.76. Following the completion of the transaction, the senior vice president now directly owns 13,336 shares of the company’s stock, valued at $1,769,153.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $113.98, for a total transaction of $159,572.00. Following the transaction, the senior vice president now directly owns 22,271 shares in the company, valued at approximately $2,538,448.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott Leff sold 5,536 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $132.66, for a total transaction of $734,405.76. Following the transaction, the senior vice president now owns 13,336 shares in the company, valued at $1,769,153.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,833 shares of company stock valued at $7,050,877 over the last ninety days. Corporate insiders own 10.00% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.