Superior Drilling Products (NYSEAMERICAN:SDPI) Price Target Cut to $1.50

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Superior Drilling Products (NYSEAMERICAN:SDPI) had its price target trimmed by Imperial Capital from $2.00 to $1.50 in a report released on Friday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the company. Dougherty & Co reiterated a buy rating on shares of Superior Drilling Products in a report on Wednesday, May 22nd. Zacks Investment Research cut Superior Drilling Products from a hold rating to a sell rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Superior Drilling Products currently has an average rating of Buy and an average price target of $1.58.

NYSEAMERICAN:SDPI opened at $0.88 on Friday. Superior Drilling Products has a 52-week low of $0.88 and a 52-week high of $5.05.

Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The firm had revenue of $4.54 million during the quarter, compared to the consensus estimate of $5.30 million.

A number of hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. increased its holdings in shares of 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 worth $510,000 after purchasing an additional 129,200 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Superior Drilling Products by 181.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 98,587 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 63,502 shares during the period. Geode Capital Management LLC bought a new position in shares of Superior Drilling Products during the fourth quarter worth approximately $101,000. Finally, Northern Trust Corp increased its holdings in shares of Superior Drilling Products by 84.8% during the fourth quarter. Northern Trust Corp now owns 28,526 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 13,091 shares during the period.

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

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