Stock Worth Watching: Dorman Products Inc. on Focus After Trading At 52-Week Highs

Stock Worth Watching: Dorman Products Inc. on Focus After Trading At 52 Week Highs

The stock of Dorman Products Inc. (NASDAQ:DORM) hit a new 52-week high and has $73.85 target or 5.00% above today’s $70.33 share price. The 7 months bullish chart indicates low risk for the $2.46B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $73.85 price target is reached, the company will be worth $123.00M 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 17,516 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. $62 is the highest target while $44 is the lowest. The $55.33 average target is -21.33% below today’s ($70.33) stock price. Dorman Products has been the topic of 7 analyst reports since October 14, 2015 according to StockzIntelligence Inc. On Thursday, February 18 the stock rating was upgraded by B. Riley & Co to “Neutral”. On Wednesday, October 14 the stock rating was initiated by Barrington Research with “Outperform”. On Tuesday, October 20 the stock rating was initiated by Jefferies with “Hold”. Jefferies maintained the stock with “Hold” rating in Wednesday, July 27 report. The stock has “Buy” rating given by Sidoti on Wednesday, December 23. The company was downgraded on Thursday, October 15 by BB&T Capital. FBR Capital maintained the shares of DORM in a report on Thursday, October 29 with “Outperform” rating.

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 is negative, 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 Ltd Liability has 17,188 shares for 0.01% of their US portfolio. Riverbridge Prns Limited Liability has 1.24 million shares for 1.47% of their US portfolio. Gemmer Asset Lc holds 57 shares or 0% of its portfolio. Cortina Asset Ltd has invested 0.43% of its portfolio in Dorman Products Inc. (NASDAQ:DORM). Fdx Inc accumulated 0.04% or 15,193 shares. Blackrock Fund Advisors holds 1.84 million shares or 0.02% of its portfolio. Ngam Advsr L P has invested 0.02% of its portfolio in Dorman Products Inc. (NASDAQ:DORM). State Street accumulated 527,999 shares or 0% of the stock. Renaissance Group Incorporated Ltd Liability Com last reported 0.01% of its portfolio in the stock. Minerva Advsr Limited accumulated 45,640 shares or 1.77% of the stock. Royal Bank Of Canada holds 0.02% or 590,614 shares in its portfolio. Wasatch Advisors holds 0.15% or 174,963 shares in its portfolio. Tributary Limited Liability Com holds 136,534 shares or 1.14% of its portfolio. Barclays Pcl has 0% invested in the company for 22,174 shares. The Illinois-based Guggenheim Cap Ltd Liability has invested 0% in Dorman Products Inc. (NASDAQ:DORM).

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 5 selling transactions for $373,245 net activity. 200 shares were sold by BARTON MATHIAS J, worth $12,508. $31,275 worth of Dorman Products Inc. (NASDAQ:DORM) shares were sold by LEDERER PAUL R. $31,360 worth of shares were sold by DARBY JEFFERY on Friday, September 2. KEALEY MICHAEL also sold $147,099 worth of Dorman Products Inc. (NASDAQ:DORM) shares. The insider LEVIN EDGAR W sold $151,003.

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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