Symmetry Medical Upgraded by Zacks to “Outperform” (SMA)
Symmetry Medical (NYSE:SMA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Thursday. The firm currently has a $11.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 19.70% from the company’s current price.
Zacks’ analyst wrote, “We have upgraded our recommendation on Symmetry Medical to Outperform from Neutral. The company’s 2014-second quarter earnings surged 50.0% to $0.15 and beat the Zacks Consensus Estimate by 33.3%. Revenues of $101.3 million rose 2.3% and also surpassed the mark. The company’s decision to divest U.K. based Clamonta will benefit in the long-run but negatively affect 2014 earnings and revenues. The new high-margin Surgical business continues to face headwinds, but we believe that long-term prospects of this business are still intact. The recent decision to divest the OEM Solutions business is also expected to improve liquidity and enhance growth. We set a target of $11.00 on the stock.”
Separately, analysts at Northcoast Research upgraded shares of Symmetry Medical from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 5th.
Shares of Symmetry Medical (NYSE:SMA) traded up 0.65% during mid-day trading on Thursday, hitting $9.25. 114,236 shares of the company’s stock traded hands. Symmetry Medical has a 1-year low of $7.69 and a 1-year high of $11.11. The stock’s 50-day moving average is $9.14 and its 200-day moving average is $9.22. The company’s market cap is $347.3 million.
Symmetry Medical (NYSE:SMA) last released its earnings data on Monday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. The company had revenue of $101.30 million for the quarter, compared to the consensus estimate of $98.38 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Symmetry Medical will post $0.57 earnings per share for the current fiscal year.
Symmetry Medical Inc (NYSE:SMA) is a medical device solutions company, including surgical instruments, orthopedic implants, and sterilization cases and trays.
To view Zacks’ full report, visit Zacks’ official website.
Receive News & Ratings for Symmetry Medical Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symmetry Medical Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.