Zacks: Brokerages Expect Dorman Products Inc. (NASDAQ:DORM) Will Post Quarterly Sales of $269.43 Million

Brokerages predict that Dorman Products Inc. (NASDAQ:DORM) will report $269.43 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Dorman Products’ earnings, with estimates ranging from $265.31 million to $272.70 million. Dorman Products posted sales of $247.95 million in the same quarter last year, which suggests a positive year over year growth rate of 8.7%. The business is scheduled to report its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Dorman Products will report full-year sales of $1.05 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.06 billion. For the next fiscal year, analysts expect that the business will report sales of $1.12 billion, with estimates ranging from $1.11 billion to $1.14 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Dorman Products.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.48). Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The business had revenue of $254.18 million during the quarter, compared to analyst estimates of $263.68 million. During the same quarter last year, the business earned $1.09 earnings per share. Dorman Products’s revenue for the quarter was up 6.7% on a year-over-year basis.

DORM has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Thursday. Barrington Research restated a “hold” rating on shares of Dorman Products in a report on Monday, July 29th. Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Thursday. Finally, ValuEngine downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.50.

A number of institutional investors and hedge funds have recently modified their holdings of DORM. Dimensional Fund Advisors LP increased its holdings in Dorman Products by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 940,179 shares of the auto parts company’s stock worth $84,633,000 after buying an additional 11,446 shares during the last quarter. Stifel Financial Corp increased its holdings in Dorman Products by 30.4% during the fourth quarter. Stifel Financial Corp now owns 4,360 shares of the auto parts company’s stock worth $395,000 after buying an additional 1,017 shares during the last quarter. Bank of America Corp DE increased its holdings in Dorman Products by 13.2% during the fourth quarter. Bank of America Corp DE now owns 237,698 shares of the auto parts company’s stock worth $21,397,000 after buying an additional 27,742 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in Dorman Products by 296.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 16,015 shares of the auto parts company’s stock worth $1,442,000 after purchasing an additional 11,978 shares during the period. Finally, MML Investors Services LLC bought a new position in Dorman Products during the fourth quarter worth $236,000. Institutional investors and hedge funds own 81.03% of the company’s stock.

Shares of NASDAQ DORM traded up $0.16 during midday trading on Monday, reaching $69.17. The company’s stock had a trading volume of 335,703 shares, compared to its average volume of 210,919. Dorman Products has a fifty-two week low of $65.68 and a fifty-two week high of $97.38. The company has a market cap of $2.37 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.65 and a beta of 0.58. The stock has a 50 day simple moving average of $83.63.

About Dorman Products

Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.

See Also: Analyzing a company’s cash flow statement

Get a free copy of the Zacks research report on Dorman Products (DORM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dorman Products (NASDAQ:DORM)

Receive News & Ratings for Dorman Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products and related companies with MarketBeat.com's FREE daily email newsletter.