The stock of Dorman Products Inc. (NASDAQ:DORM) reached all time high today, Nov, 22 and still has $75.41 target or 7.00% above today’s $70.48 share price. This indicates more upside for the $2.47 billion company. This technical setup was reported by Barchart.com. If the $75.41 PT is reached, the company will be worth $172.90M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 32,665 shares traded hands. Dorman Products Inc. (NASDAQ:DORM) has risen 30.37% since April 20, 2016 and is uptrending. It has outperformed by 25.81% 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 rating was downgraded by BB&T Capital on Thursday, October 15 to “Hold”. The stock has “Outperform” rating given by FBR Capital on Thursday, October 29. Jefferies maintained Dorman Products Inc. (NASDAQ:DORM) on Wednesday, July 27 with “Hold” rating. Jefferies initiated the shares of DORM in a report on Tuesday, October 20 with “Hold” rating. B. Riley & Co upgraded Dorman Products Inc. (NASDAQ:DORM) rating on Thursday, February 18. B. Riley & Co has “Neutral” rating and $44 price target. As per Wednesday, December 23, the company rating was initiated by Sidoti. The stock of Dorman Products Inc. (NASDAQ:DORM) has “Outperform” rating given on Wednesday, October 14 by Barrington Research.
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 0.94 in Q2 2016. Its down 0.24, from 1.18 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.
Janney Montgomery Scott Limited Co holds 17,188 shares or 0.01% of its portfolio. Renaissance Group Inc Ltd Llc holds 5,475 shares or 0.01% of its portfolio. Ngam Advisors L P accumulated 0.02% or 21,857 shares. Parametric Port Assoc Lc accumulated 90,929 shares or 0.01% of the stock. Fiera Capital last reported 67,502 shares in the company. Violich Cap Inc holds 4,060 shares or 0.07% of its portfolio. Trust Of Vermont, a Vermont-based fund reported 79 shares. Pnc Financial Ser has 925,038 shares for 0.06% of their US portfolio. Bancorpsouth holds 0.02% or 3,823 shares in its portfolio. Prudential Incorporated has 75,018 shares for 0.01% of their US portfolio. Metropolitan Life New York accumulated 0.01% or 18,777 shares. Moreover, Mai Management has 0.07% invested in Dorman Products Inc. (NASDAQ:DORM) for 16,133 shares. Minerva Advsr Ltd Liability Corporation, a Pennsylvania-based fund reported 45,640 shares. Aqr Cap Management Ltd Company last reported 0% of its portfolio in the stock. Great West Life Assurance Can last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 5 selling transactions for $373,245 net activity. $12,508 worth of Dorman Products Inc. (NASDAQ:DORM) was sold by BARTON MATHIAS J. LEDERER PAUL R also sold $31,275 worth of Dorman Products Inc. (NASDAQ:DORM) on Friday, August 26. LEVIN EDGAR W also sold $151,003 worth of Dorman Products Inc. (NASDAQ:DORM) shares. DARBY JEFFERY sold $31,360 worth of Dorman Products Inc. (NASDAQ:DORM) on Friday, September 2. 2,710 shares were sold by KEALEY MICHAEL, worth $147,099 on Wednesday, June 15.
More news for Dorman Products Inc. (NASDAQ:DORM) were recently published by: Fool.com, which released: “Dorman Products Inc. Overcomes Obstacles to Drive Strong Earnings Growth” on July 26, 2016. Fool.com‘s article titled: “Dorman Products Revs Up Its Earnings Engines” and published on February 17, 2016 is yet another important article.
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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