Zacks: Analysts Anticipate Dorman Products Inc. (NASDAQ:DORM) Will Announce Quarterly Sales of $270.67 Million

Wall Street analysts expect Dorman Products Inc. (NASDAQ:DORM) to post $270.67 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Dorman Products’ earnings, with the highest sales estimate coming in at $273.99 million and the lowest estimate coming in at $265.31 million. Dorman Products reported sales of $247.95 million in the same quarter last year, which indicates a positive year over year growth rate of 9.2%. The firm is scheduled to announce its next earnings report on Thursday, October 24th.

On average, analysts expect that Dorman Products will report full year sales of $1.05 billion for the current year, with estimates ranging from $1.04 billion to $1.06 billion. For the next year, analysts expect that the business will report sales of $1.12 billion, with estimates ranging from $1.10 billion to $1.14 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Dorman Products.

Dorman Products (NASDAQ:DORM) last released 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). The company had revenue of $254.18 million for the quarter, compared to analyst estimates of $263.68 million. Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS.

A number of research firms have recently commented on DORM. Zacks Investment Research raised Dorman Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 1st. ValuEngine lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $97.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DORM. Steward Partners Investment Advisory LLC acquired a new position in shares of Dorman Products during the 2nd quarter worth about $28,000. Tower Research Capital LLC TRC purchased a new stake in shares of Dorman Products during the 2nd quarter valued at $28,000. Strs Ohio raised its position in shares of Dorman Products by 160.0% during the 2nd quarter. Strs Ohio now owns 1,300 shares of the auto parts company’s stock valued at $113,000 after buying an additional 800 shares in the last quarter. Zions Bancorporation N.A. raised its position in shares of Dorman Products by 5.7% during the 2nd quarter. Zions Bancorporation N.A. now owns 2,858 shares of the auto parts company’s stock valued at $249,000 after buying an additional 155 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in Dorman Products in the 2nd quarter worth $279,000. Institutional investors own 81.52% of the company’s stock.

Dorman Products stock traded up $1.31 during mid-day trading on Friday, hitting $80.87. 2,121 shares of the company’s stock traded hands, compared to its average volume of 171,198. The firm has a 50 day moving average price of $76.65 and a 200 day moving average price of $82.33. The company has a market cap of $2.52 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.84 and a beta of 0.55. Dorman Products has a one year low of $65.68 and a one year high of $97.38.

Dorman Products Company Profile

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.

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

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