Zacks Investment Research upgraded shares of SmileDirectClub (NASDAQ:SDC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. They currently have $8.50 target price on the stock.
According to Zacks, “SmileDirectClub is in the oral care industry. Their clear-aligner treatment addresses the large global orthodontics market. “
Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on SmileDirectClub from $16.00 to $12.00 and set an overweight rating for the company in a research note on Thursday, May 14th. Jefferies Financial Group reissued a hold rating and issued a $6.50 price target on shares of SmileDirectClub in a report on Thursday, May 14th. Stephens started coverage on shares of SmileDirectClub in a report on Wednesday, June 24th. They set an overweight rating and a $11.00 price objective on the stock. ValuEngine upgraded shares of SmileDirectClub from a hold rating to a buy rating in a research report on Thursday, April 2nd. Finally, Bank of America downgraded shares of SmileDirectClub from a buy rating to an underperform rating and reduced their price target for the stock from $10.00 to $7.00 in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. SmileDirectClub presently has an average rating of Buy and a consensus price target of $11.86.
SDC stock opened at $7.71 on Tuesday. The firm has a market cap of $2.89 billion and a PE ratio of -6.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.21 and a current ratio of 2.34. The firm’s fifty day moving average is $7.77 and its 200 day moving average is $8.32. SmileDirectClub has a one year low of $3.64 and a one year high of $21.10.
SmileDirectClub (NASDAQ:SDC) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.06). The company had revenue of $196.65 million during the quarter, compared to analysts’ expectations of $205.64 million. Research analysts predict that SmileDirectClub will post -0.65 earnings per share for the current fiscal year.
In related news, insider Kay Oswald sold 10,000 shares of SmileDirectClub stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $10.04, for a total transaction of $100,400.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 66.04% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. State Street Corp purchased a new stake in shares of SmileDirectClub in the first quarter valued at about $174,000. Royal Bank of Canada grew its stake in shares of SmileDirectClub by 246.2% in the 1st quarter. Royal Bank of Canada now owns 51,763 shares of the company’s stock valued at $242,000 after buying an additional 36,811 shares during the period. Telemus Capital LLC increased its holdings in shares of SmileDirectClub by 70.9% during the 1st quarter. Telemus Capital LLC now owns 84,449 shares of the company’s stock worth $660,000 after buying an additional 35,024 shares during the last quarter. Morgan Stanley raised its position in shares of SmileDirectClub by 357.0% during the 1st quarter. Morgan Stanley now owns 1,289,976 shares of the company’s stock valued at $6,024,000 after buying an additional 1,007,685 shares during the period. Finally, Odey Asset Management Group Ltd purchased a new stake in shares of SmileDirectClub during the 1st quarter valued at approximately $1,074,000. 18.11% of the stock is currently owned by hedge funds and other institutional investors.
SmileDirectClub, Inc operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. The company manages the end-to-end process, which include marketing, aligner manufacturing, fulfillment, treatment by a doctor, and monitoring through completion of their treatment proprietary with a network of approximately 240 state licensed orthodontists and general dentists through its teledentistry platform, SmileCheck.
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