Dorman Products (DORM) : Traders are bullish on Dorman Products (DORM) as it has outperformed the S&P 500 by a wide margin of 8.25% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.76%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.73% in the last 1 week, and is up 8.67% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Dorman Products, Inc. is up 19.4% in the last 3-month period. Year-to-Date the stock performance stands at 30.97%. The stock has recorded a 20-day Moving Average of 0.51% and the 50-Day Moving Average is 7.31%.
Dorman Products (NASDAQ:DORM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $61.47 and $61.27 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $62.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $62.17, notching a gain of 0.75% for the day. The total traded volume was 291,026 . The stock had closed at $61.71 on the previous day.
Also, In a research note released to the investors, Jefferies maintains its rating on Dorman Products (NASDAQ:DORM).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Jefferies raises the new price target from $55 per share to $60 per share. The rating by the firm was issued on July 27, 2016.
Dorman Products, Inc. (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 140,000 different stock keeping units (SKUs) of automotive replacement parts and fasteners. Approximately 85% of the Companys products are sold under brands that it owns and the remainders of its products are sold for resale under customers private labels, other brands or in bulk. The Company also generates revenues from the sale of parts that it packages for sale in bulk or under the private labels of parts manufacturers and national warehouse distributors. The Company groups its products into four classes: power-train, automotive body, chassis and hardware. Its sub-brands include DORMAN OE Solutions, DORMAN HELP!, DORMAN TECHoice, DORMAN AutoGrade, DORMAN Conduct-Tite!, DORMAN FirstStop and DORMAN HD Solutions.