Blog
Dorman Products, Inc
- 2020-03-16
- Traiding Idea
Dorman Products, Inc. engages in the supply of automotive replacement parts, fasteners, and service line products for the automotive aftermarket. Its products comprise of power-train, automotive body, chassis, and hardware. The company was founded by Steven L. Berman and Richard N. Berman in October 1978 and is headquartered in Colmar, PA. As of December 31, 2016, approximately 83% of its products were sold under brands that it owned and the remainder of its products were sold for resale under customers' private labels, other brands or in bulk. Its products are sold in the United States through automotive aftermarket retailers, national, regional and local warehouse distributors, and specialty markets, and salvage yards. It also distributes automotive replacement parts outside the United States, with sales primarily into Canada, Mexico, Europe, the Middle East, and Australia. Its parts are marketed under the OE Solutions, TECHoice, AutoGrade, Conduct-Tite, FirstStop and HD Solutions brand names.
DORM Financial Summary
For the fiscal year ended 28 December 2019, Dorman Products Inc. revenues increased 2% to $991.3M. Net income decreased 37% to $83.8M. Revenues reflect Chassis segment increase of 7% to $297.4M, Powertrain segment increase of 1% to $396M, Net Sales to U.S. Customers segment increase of 2% to $929.9M, Net Sales to Non-U.S. Customers segment increase of 1% to $61.4M. Net income was offset by Selling.
Technical Analysis:
Technically we have to consider that a 6-year channel has been broken. Due to market impact of the coronavirus , the current market trend is downward. on the other side the price has been broken the triangle pattern and pullbacked till Fibonacci retracement 38%.
Trading tips:
To open short position, may be open the position right now at 60.3
TP1: 54.50 @ S1 Monthly
TP2: 48.30 @ S2 Monthly
