Trade-Ideas LLC identified

Align Technology

(

ALGN

) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Align Technology as such a stock due to the following factors:

  • ALGN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $74.9 million.
  • ALGN has traded 4,205 shares today.
  • ALGN is trading at a new lifetime high.

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More details on ALGN:

Align Technology, Inc. ALGN has a PE ratio of 39. Currently there are 9 analysts that rate Align Technology a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Align Technology has been 709,600 shares per day over the past 30 days. Align Technology has a market cap of $5.6 billion and is part of the health care sector and health services industry. Shares are up 6.8% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Align Technology as a

buy

. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:

  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Health Care Equipment & Supplies industry average. The net income increased by 23.6% when compared to the same quarter one year prior, going from $39.54 million to $48.88 million.
  • ALGN's revenue growth trails the industry average of 29.7%. Since the same quarter one year prior, revenues rose by 15.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • ALGN has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 2.52, which clearly demonstrates the ability to cover short-term cash needs.
  • The stock has not only risen over the past year, it has done so at a faster pace than the S&P 500, reflecting the earnings growth and other positive factors similar to those we have cited here. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • Net operating cash flow has increased to $79.36 million or 10.82% when compared to the same quarter last year. In addition, ALIGN TECHNOLOGY INC has also modestly surpassed the industry average cash flow growth rate of 1.22%.

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