Superior Drilling Products (SDPI) Receives Buy Rating from Dougherty & Co

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Superior Drilling Products (NYSEAMERICAN:SDPI)‘s stock had its “buy” rating reaffirmed by research analysts at Dougherty & Co in a research note issued to investors on Wednesday, Zacks.com reports. Dougherty & Co also issued estimates for Superior Drilling Products’ Q2 2019 earnings at $0.00 EPS, FY2019 earnings at ($0.01) EPS and FY2020 earnings at $0.08 EPS.

Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Superior Drilling Products from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 30th. Roth Capital raised Superior Drilling Products from a “neutral” rating to a “buy” rating and reduced their target price for the company from $4.00 to $2.00 in a report on Friday, March 8th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $2.08.

SDPI traded up $0.03 during midday trading on Wednesday, reaching $0.95. 42,350 shares of the company were exchanged, compared to its average volume of 143,680. Superior Drilling Products has a one year low of $0.88 and a one year high of $5.05.

Superior Drilling Products (NYSEAMERICAN:SDPI) last issued its quarterly earnings data on Thursday, May 9th. The oil and gas company reported ($0.01) EPS for the quarter. The business had revenue of $5.04 million during the quarter, compared to analysts’ expectations of $5.24 million.

A number of hedge funds and other institutional investors have recently made changes to their positions in SDPI. Prescott Group Capital Management L.L.C. bought a new position in Superior Drilling Products during the fourth quarter valued at $503,000. Punch & Associates Investment Management Inc. grew its holdings in Superior Drilling Products by 50.3% during the first quarter. Punch & Associates Investment Management Inc. now owns 386,200 shares of the oil and gas company’s stock valued at $510,000 after purchasing an additional 129,200 shares during the period. Vanguard Group Inc grew its holdings in Superior Drilling Products by 85.1% during the third quarter. Vanguard Group Inc now owns 267,307 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 122,906 shares during the period. Vanguard Group Inc. grew its holdings in Superior Drilling Products by 85.1% during the third quarter. Vanguard Group Inc. now owns 267,307 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 122,906 shares during the period. Finally, Alambic Investment Management L.P. bought a new position in Superior Drilling Products during the fourth quarter valued at $125,000.

About Superior Drilling Products

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. The company manufactures and refurbishes polycrystalline diamond compact drill bits for an oil field services company.

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