Zacks: Brokerages Expect Dorman Products, Inc. (DORM) Will Announce Quarterly Sales of $235.49 Million
Equities research analysts expect that Dorman Products, Inc. (NASDAQ:DORM) will report $235.49 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Dorman Products’ earnings. The lowest sales estimate is $231.94 million and the highest is $238.32 million. Dorman Products reported sales of $212.79 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The business is scheduled to issue its next earnings results before the market opens on Friday, October 27th.
On average, analysts expect that Dorman Products will report full-year sales of $235.49 million for the current fiscal year, with estimates ranging from $923.00 million to $932.05 million. For the next financial year, analysts anticipate that the firm will report sales of $995.07 million per share, with estimates ranging from $993.04 million to $996.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Dorman Products.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.01). The business had revenue of $229.26 million during the quarter, compared to analyst estimates of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS.
DORM has been the subject of a number of recent analyst reports. Zacks Investment Research cut Dorman Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub cut Dorman Products from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, FBR & Co reaffirmed a “mkt perform” rating and issued a $74.50 price target on shares of Dorman Products in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $78.00.
In related news, Director Paul R. Lederer sold 1,800 shares of the business’s stock in a transaction that occurred 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 directly owns 16,961 shares in the company, valued at approximately $1,269,022.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC grew its position in shares of Dorman Products by 3.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock valued at $115,000 after purchasing an additional 41 shares during the period. SG Americas Securities LLC acquired a new position in shares of Dorman Products in the 2nd quarter valued at approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Dorman Products by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock valued at $119,000 after purchasing an additional 118 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in shares of Dorman Products by 10.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock valued at $120,000 after purchasing an additional 139 shares during the period. Finally, Winslow Evans & Crocker Inc. grew its position in shares of Dorman Products by 1,740.0% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,840 shares of the auto parts company’s stock valued at $132,000 after purchasing an additional 1,740 shares during the period. Institutional investors and hedge funds own 75.86% of the company’s stock.
Dorman Products (NASDAQ DORM) opened at 71.98 on Wednesday. Dorman Products has a one year low of $61.07 and a one year high of $88.50. The firm has a 50 day moving average of $70.45 and a 200 day moving average of $76.08. The firm has a market capitalization of $2.45 billion, a PE ratio of 21.88 and a beta of 0.64.
Dorman Products Company Profile
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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