Roth Capital Comments on Dorman Products, Inc.’s Q2 2024 Earnings (NASDAQ:DORM)

Dorman Products, Inc. (NASDAQ:DORM) – Equities researchers at Roth Capital decreased their Q2 2024 earnings per share estimates for shares of Dorman Products in a report released on Wednesday, May 8th. Roth Capital analyst S. Stember now forecasts that the auto parts company will post earnings of $1.15 per share for the quarter, down from their previous forecast of $1.36. The consensus estimate for Dorman Products’ current full-year earnings is $5.55 per share. Roth Capital also issued estimates for Dorman Products’ Q3 2024 earnings at $1.59 EPS, Q2 2025 earnings at $1.41 EPS and Q3 2025 earnings at $1.84 EPS.

Several other equities research analysts have also recently commented on the company. Roth Mkm reaffirmed a “buy” rating and set a $116.00 price objective on shares of Dorman Products in a research report on Monday, March 25th. Barrington Research reiterated an “outperform” rating and issued a $90.00 price target on shares of Dorman Products in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Dorman Products from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, TheStreet upgraded shares of Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th.

Dorman Products Stock Performance

Shares of DORM opened at $91.23 on Thursday. Dorman Products has a 12 month low of $60.01 and a 12 month high of $98.55. The business’s fifty day simple moving average is $91.90 and its two-hundred day simple moving average is $83.06. The company has a current ratio of 2.25, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 22.25 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.49. The firm had revenue of $468.70 million for the quarter, compared to the consensus estimate of $472.35 million. Dorman Products had a net margin of 6.70% and a return on equity of 12.92%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings in Dorman Products by 277.4% in the 4th quarter. Parallel Advisors LLC now owns 317 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 233 shares during the period. Headinvest LLC purchased a new position in shares of Dorman Products during the 3rd quarter valued at about $30,000. YHB Investment Advisors Inc. bought a new position in shares of Dorman Products during the 1st quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in Dorman Products in the 4th quarter worth approximately $37,000. Finally, Mather Group LLC. bought a new stake in Dorman Products during the 1st quarter worth approximately $48,000. 84.70% of the stock is currently owned by institutional investors.

About Dorman Products

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.