Notable Mover: Could Dorman Products Inc. See a Reversal After Breaking Its 52-Week High?

Notable Mover: Could Dorman Products Inc. See a Reversal After Breaking Its 52 Week High?

The stock of Dorman Products Inc. (NASDAQ:DORM) hit a new 52-week high and has $82.81 target or 25.00% above today’s $66.25 share price. The 6 months bullish chart indicates low risk for the $2.35B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $82.81 price target is reached, the company will be worth $587.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 88,460 shares traded hands. Dorman Products Inc. (NASDAQ:DORM) has risen 25.49% since April 11, 2016 and is uptrending. It has outperformed by 19.34% the S&P500.

Dorman Products Inc. (NASDAQ:DORM) Ratings Coverage

Out of 6 analysts covering Dorman Products (NASDAQ:DORM), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Dorman Products has been the topic of 7 analyst reports since October 14, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by FBR Capital given on Thursday, October 29. The stock of Dorman Products Inc. (NASDAQ:DORM) has “Hold” rating given on Tuesday, October 20 by Jefferies. The rating was initiated by Barrington Research on Wednesday, October 14 with “Outperform”. The company was upgraded on Thursday, February 18 by B. Riley & Co. As per Wednesday, July 27, the company rating was maintained by Jefferies. The rating was initiated by Sidoti on Wednesday, December 23 with “Buy”. On Thursday, October 15 the stock rating was downgraded by BB&T Capital to “Hold”.

According to Zacks Investment Research, “R&B, Inc. is a leading supplier of OE Dealer Exclusive automotive replacement parts, automotive hardware, brake products, and household hardware to the Automotive Aftermarket and Mass Merchandise markets. Dorman automotive parts and hardware are marketed under the OE Solutions, HELP, AutoGrade, First Stop, Conduct-Tite, Pik-A-Nut and Scan-Tech brand names.”

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q2 2016. Its down 0.01, from 1.19 in 2016Q1. The ratio fall, as 15 funds sold all Dorman Products Inc. shares owned while 61 reduced positions. 26 funds bought stakes while 64 increased positions. They now own 25.64 million shares or 2.29% less from 26.25 million shares in 2016Q1.
Aperio Group Ltd Liability Corp last reported 0% of its portfolio in the stock. Price T Rowe Assoc Md holds 905,560 shares or 0.01% of its portfolio. Comerica Bancorporation accumulated 31,169 shares or 0.02% of the stock. Blackrock Inc has 0% invested in the company for 2,168 shares. Lpl Finance Ltd Limited Liability Company accumulated 5,316 shares or 0% of the stock. Alps Inc reported 7,680 shares or 0% of all its holdings. First State Bank Of Omaha has 12,375 shares for 0.05% of their US portfolio. Teachers Advsr Incorporated holds 0% of its portfolio in Dorman Products Inc. (NASDAQ:DORM) for 42,791 shares. Tiaa Cref Mngmt Lc owns 83,298 shares or 0% of their US portfolio. Jpmorgan Chase & Com accumulated 26,905 shares or 0% of the stock. Moreover, Next Financial Group Incorporated has 0% invested in Dorman Products Inc. (NASDAQ:DORM) for 45 shares. California Employees Retirement Systems owns 85,146 shares or 0.01% of their US portfolio. The California-based Fdx Advisors Incorporated has invested 0.04% in Dorman Products Inc. (NASDAQ:DORM). Moreover, Jfs Wealth Advsrs Ltd Company has 0.02% invested in Dorman Products Inc. (NASDAQ:DORM) for 1,575 shares. Sheets Smith Wealth Mgmt holds 0.07% of its portfolio in Dorman Products Inc. (NASDAQ:DORM) for 4,135 shares.

Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 6 insider sales for $571,995 net activity. The insider LEVIN EDGAR W sold 2,750 shares worth $151,003. Another trade for 200 shares valued at $12,508 was sold by BARTON MATHIAS J. DARBY JEFFERY also sold $31,360 worth of Dorman Products Inc. (NASDAQ:DORM) shares. $31,275 worth of shares were sold by LEDERER PAUL R on Friday, August 26. KEALEY MICHAEL sold $147,099 worth of stock.

More recent Dorman Products Inc. (NASDAQ:DORM) news were published by: Fool.com which released: “Dorman Products Inc. Overcomes Obstacles to Drive Strong Earnings Growth” on July 26, 2016. Also Seekingalpha.com published the news titled: “Dorman Products: A Strong Moat At A Fair Price” on September 29, 2016. Fool.com‘s news article titled: “Dorman Products Revs Up Its Earnings Engines” with publication date: February 17, 2016 was also an interesting one.

DORM Company Profile

Dorman Products, Inc. (Dorman), incorporated on October 16, 1978, is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. The Firm distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners. Approximately 84% of the Company’s products are sold under brands that it owns and the remaining products are sold for resale under customers’ private labels, other brands or in bulk. The Company’s products are sold in the United States through automotive aftermarket retailers, (such as Advance Auto Parts, AutoZone and O’Reilly Auto Parts), national, regional and local warehouse distributors, (such as Genuine Parts Co. – NAPA) and specialty markets, and salvage yards. It also distributes automotive replacement parts internationally.

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