Analysts Anticipate Dorman Products, Inc. (DORM) to Announce $0.88 Earnings Per Share
Equities research analysts predict that Dorman Products, Inc. (NASDAQ:DORM) will announce $0.88 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Dorman Products’ earnings. The lowest EPS estimate is $0.85 and the highest is $0.90. Dorman Products reported earnings per share of $0.77 during the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The firm is scheduled to report its next quarterly earnings results on Monday, October 23rd.
On average, analysts expect that Dorman Products will report full-year earnings of $3.45 per share for the current financial year, with EPS estimates ranging from $3.40 to $3.49. For the next financial year, analysts forecast that the business will post earnings of $3.77 per share, with EPS estimates ranging from $3.70 to $3.82. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Dorman Products.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.01). Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The business had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, FBR & Co reaffirmed a “mkt perform” rating and set a $74.50 price target on shares of Dorman Products in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $81.25.
Dorman Products (DORM) opened at 67.95 on Friday. Dorman Products has a 12-month low of $60.00 and a 12-month high of $88.50. The stock’s 50 day moving average is $69.67 and its 200 day moving average is $77.76. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 20.65 and a beta of 0.64.
In other news, Director Paul R. Lederer sold 1,800 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.82, for a total value of $134,676.00. Following the completion of the transaction, the director now owns 16,961 shares in the company, valued at $1,269,022.02. The sale was disclosed in a document filed with the SEC, which is available at this link. 11.70% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Dorman Products by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 152,936 shares of the auto parts company’s stock valued at $12,561,000 after buying an additional 11,605 shares in the last quarter. Strs Ohio increased its position in Dorman Products by 533.3% during the 2nd quarter. Strs Ohio now owns 5,700 shares of the auto parts company’s stock worth $471,000 after purchasing an additional 4,800 shares in the last quarter. Paradice Investment Management LLC increased its position in Dorman Products by 21.8% during the 2nd quarter. Paradice Investment Management LLC now owns 105,642 shares of the auto parts company’s stock worth $8,744,000 after purchasing an additional 18,900 shares in the last quarter. Tributary Capital Management LLC increased its position in Dorman Products by 11.1% during the 1st quarter. Tributary Capital Management LLC now owns 218,115 shares of the auto parts company’s stock worth $17,914,000 after purchasing an additional 21,722 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in Dorman Products by 338.1% during the 1st quarter. Gotham Asset Management LLC now owns 16,860 shares of the auto parts company’s stock worth $1,385,000 after purchasing an additional 13,012 shares in the last quarter. Institutional investors and hedge funds own 75.61% of the company’s stock.
About Dorman Products
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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