Dorman Products Inc. (DORM) Expected to Post Quarterly Sales of $235.45 Million

Analysts expect Dorman Products Inc. (NASDAQ:DORM) to announce $235.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Dorman Products’ earnings, with the highest sales estimate coming in at $235.97 million and the lowest estimate coming in at $234.40 million. Dorman Products reported sales of $229.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Dorman Products will report full-year sales of $235.45 million for the current financial year, with estimates ranging from $909.90 million to $911.47 million. For the next financial year, analysts expect that the firm will report sales of $1.01 billion per share, with estimates ranging from $1.00 billion to $1.02 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Dorman Products.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Friday, October 27th. The auto parts company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.07). The business had revenue of $224.60 million during the quarter, compared to analyst estimates of $233.56 million. Dorman Products had a return on equity of 18.32% and a net margin of 12.53%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS.

DORM has been the subject of a number of recent analyst reports. Zacks Investment Research raised Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Jefferies Group reissued a “hold” rating and issued a $75.00 price objective on shares of Dorman Products in a research report on Sunday, October 29th. FBR & Co reissued a “neutral” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a research report on Monday, October 30th. B. Riley reissued a “neutral” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a research report on Wednesday, November 1st. Finally, BidaskClub cut Dorman Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $68.33.

Shares of Dorman Products (NASDAQ DORM) opened at $71.39 on Friday. The firm has a market capitalization of $2,330.56, a price-to-earnings ratio of 21.57, a PEG ratio of 1.66 and a beta of 0.61. Dorman Products has a 52-week low of $60.93 and a 52-week high of $88.50.

A number of institutional investors and hedge funds have recently modified their holdings of DORM. Schwab Charles Investment Management Inc. lifted its position in Dorman Products by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 158,515 shares of the auto parts company’s stock worth $13,121,000 after acquiring an additional 5,579 shares during the period. SG Americas Securities LLC acquired a new stake in Dorman Products during the 2nd quarter worth about $117,000. Legal & General Group Plc raised its stake in shares of Dorman Products by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 57,265 shares of the auto parts company’s stock valued at $4,740,000 after buying an additional 4,767 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Dorman Products by 52.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,818 shares of the auto parts company’s stock valued at $813,000 after buying an additional 3,394 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Dorman Products by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,268 shares of the auto parts company’s stock valued at $188,000 after buying an additional 338 shares during the last quarter. 76.23% of the stock is owned by institutional investors.

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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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