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

Exclusive: 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 $77.21 target or 7.00% above today’s $72.16 share price. The 8 months bullish chart indicates low risk for the $2.52 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $77.21 price target is reached, the company will be worth $176.40 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 41,275 shares traded hands. Dorman Products Inc. (NASDAQ:DORM) has risen 35.51% since April 25, 2016 and is uptrending. It has outperformed by 29.50% the S&P500.

Analysts await Dorman Products Inc. (NASDAQ:DORM) to report earnings on February, 15. They expect $0.77 EPS, up 14.93% or $0.10 from last year’s $0.67 per share. DORM’s profit will be $26.89 million for 23.43 P/E if the $0.77 EPS becomes a reality. After $0.77 actual EPS reported by Dorman Products Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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 company was initiated on Wednesday, October 14 by Barrington Research. The stock of Dorman Products Inc. (NASDAQ:DORM) has “Buy” rating given on Wednesday, December 23 by Sidoti. Jefferies initiated Dorman Products Inc. (NASDAQ:DORM) on Tuesday, October 20 with “Hold” rating. The firm has “Hold” rating given on Thursday, October 15 by BB&T Capital. The firm has “Outperform” rating given on Thursday, October 29 by FBR Capital. The firm earned “Neutral” rating on Thursday, February 18 by B. Riley & Co. Jefferies maintained Dorman Products Inc. (NASDAQ:DORM) rating on Wednesday, July 27. Jefferies has “Hold” rating and $60 price target.

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 worsened, 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.
Blackrock Gp Ltd accumulated 43,299 shares or 0% of the stock. Guggenheim Cap Llc last reported 5,019 shares in the company. Teacher Retirement Systems Of Texas reported 4,459 shares or 0% of all its holdings. Jfs Wealth Advisors Ltd Limited Liability Company last reported 0.02% of its portfolio in the stock. Bessemer Grp Inc Inc holds 168 shares or 0% of its portfolio. Horizon Kinetics last reported 0.05% of its portfolio in the stock. Natl Bank Of America De accumulated 225,605 shares or 0% of the stock. Voya Mngmt Limited Liability last reported 0% of its portfolio in the stock. Morgan Stanley accumulated 23,293 shares or 0% of the stock. The Ohio-based Keybank Natl Association Oh has invested 0% in Dorman Products Inc. (NASDAQ:DORM). Swiss Bancorporation reported 51,000 shares or 0% of all its holdings. Credit Suisse Ag, a Switzerland-based fund reported 26,593 shares. Blackrock Institutional Na owns 723,373 shares or 0.01% of their US portfolio. The Minnesota-based Riverbridge Prns Ltd Llc has invested 1.47% in Dorman Products Inc. (NASDAQ:DORM). Pinebridge Invs Limited Partnership holds 3,819 shares or 0.01% of its portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 4 sales for $222,242 net activity. $31,275 worth of Dorman Products Inc. (NASDAQ:DORM) shares were sold by LEDERER PAUL R. DARBY JEFFERY had sold 490 shares worth $31,360 on Friday, September 2. $12,508 worth of Dorman Products Inc. (NASDAQ:DORM) was sold by BARTON MATHIAS J on Friday, August 26. 2,710 shares with value of $147,099 were sold by KEALEY MICHAEL on Wednesday, June 15. LEVIN EDGAR W also sold $151,003 worth of Dorman Products Inc. (NASDAQ:DORM) shares.

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 Fool.com published the news titled: “Dorman Products Looks Forward to a Brighter Future” on October 26, 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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