Dorman Products (NASDAQ:DORM) Issues Quarterly Earnings Results

Dorman Products (NASDAQ:DORM) posted its quarterly earnings results on Monday. The auto parts company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08, FiscalAI reports. The company had revenue of $561.72 million during the quarter, compared to the consensus estimate of $565.33 million. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $2.62 EPS.

Dorman Products Stock Up 0.6%

NASDAQ:DORM opened at $125.10 on Wednesday. Dorman Products has a 52 week low of $98.44 and a 52 week high of $155.37. The company’s 50 day moving average price is $125.62 and its 200-day moving average price is $123.47. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 18.58 and a beta of 1.02.

Wall Street Analyst Weigh In

DORM has been the topic of a number of research reports. Weiss Ratings raised Dorman Products from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Roth Capital reaffirmed a “buy” rating on shares of Dorman Products in a research note on Wednesday, August 5th. Wells Fargo & Company dropped their price objective on Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Finally, Freedom Capital cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.50.

Insider Activity

In other news, CAO Gregory Bowen sold 3,531 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $145.01, for a total value of $512,030.31. Following the transaction, the chief accounting officer directly owned 5,340 shares in the company, valued at $774,353.40. This trade represents a 39.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by insiders.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.