Today Align Technology (ALGN) Hits New Lifetime High
Trade-Ideas LLC identified
(
) 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 $56.4 million.
- ALGN has traded 79,639 shares today.
- ALGN is trading at a new lifetime high.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in ALGN with the Ticky from Trade-Ideas. See the FREE profile for ALGN NOW at Trade-Ideas
More details on ALGN:
Align Technology, Inc. ALGN has a PE ratio of 42. 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 717,900 shares per day over the past 30 days. Align Technology has a market cap of $6.1 billion and is part of the health care sector and health services industry. The stock has a beta of 1.23 and a short float of 5.7% with 5.67 days to cover. Shares are up 15.4% year-to-date as of the close of trading on Thursday.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
Analysis:
rates Align Technology as a
. 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 growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
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 12.1% when compared to the same quarter one year prior, going from $36.18 million to $40.55 million.
- ALGN's revenue growth trails the industry average of 30.8%. Since the same quarter one year prior, revenues rose by 20.5%. This growth in revenue appears to have trickled down to the company's bottom line, improving 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 2.64, which clearly demonstrates the ability to cover short-term cash needs.
- Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 29.12% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, ALGN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- ALIGN TECHNOLOGY INC has improved earnings per share by 13.6% in the most recent quarter compared to the same quarter a year ago. Stable earnings per share over the past year indicate the company has sound management over its earnings and share float. We anticipate these figures will begin to experience more growth in the coming year. During the past fiscal year, ALIGN TECHNOLOGY INC's EPS of $1.77 remained unchanged from the prior years' EPS of $1.77. This year, the market expects an improvement in earnings ($2.15 versus $1.77).
- You can view the full Align Technology Ratings Report.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
