Superior Drilling Products (NYSEAMERICAN:SDPI) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Thursday. The firm presently has a $1.50 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.91% from the company’s previous close.
According to Zacks, “Superior Drilling Products, Inc. operates as a manufacturer and remanufacturer of PDC (polycrystalline diamond compact) drill bits and drill string tools for the oil, natural gas and mining services industries. It also provides manufacturing, leasing, and refurbishing of drill string tools to oil field services clients. Superior Drilling Products, Inc. is based in United States. “
Several other research firms have also weighed in on SDPI. TheStreet raised shares of Superior Drilling Products from a “d” rating to a “c-” rating in a report on Friday, December 1st. ValuEngine raised shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $1.83.
Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.02 earnings per share for the quarter. The firm had revenue of $4.45 million for the quarter, compared to analyst estimates of $4.13 million.
An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. lifted its stake in Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 616,733 shares of the oil and gas company’s stock after purchasing an additional 595,733 shares during the period. Adirondack Research & Management Inc. owned 2.55% of Superior Drilling Products worth $493,000 at the end of the most recent quarter.
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Superior Drilling Products Company Profile
Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.
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