ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) Upgraded to “Strong-Buy” by Zacks Investment Research

ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, reports. The firm presently has a $90.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.41% from the stock’s current price.

According to Zacks, “Cantel Medical Corporation is a global company dedicated to delivering innovative infection prevention products and services for patients, caregivers, and other healthcare providers, which improve outcomes and help save lives. Through an expansive portfolio of endoscopy, water purification and filtration, and healthcare disposables, Cantel Medical provides high-quality infection prevention solutions and unsurpassed service, touching millions of patients each year around the world. Cantel Medical is a leading provider of infection prevention products and services in the healthcare market. Cantel Medical specializing in the Endoscopy procedure disposables includes single-use valves and irrigation tubing. Medical device reprocessing systems, disinfectants, detergents and other supplies are used to disinfect high-level endoscopes. “

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of ProShares UltraShort DJ-UBS Commodity in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $106.00.

NYSEARCA CMD traded up $0.75 during trading on Wednesday, hitting $79.36. 356,300 shares of the company’s stock traded hands, compared to its average volume of 269,966. ProShares UltraShort DJ-UBS Commodity has a 12-month low of $63.47 and a 12-month high of $99.68. The business has a 50 day moving average of $87.87 and a 200-day moving average of $76.28.

ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) last released its quarterly earnings data on Monday, September 23rd. The medical instruments supplier reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business had revenue of $239.50 million for the quarter, compared to analysts’ expectations of $238.07 million. ProShares UltraShort DJ-UBS Commodity’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share.

ProShares UltraShort DJ-UBS Commodity Company Profile

ProShares UltraShort DJ-UBS Commodity (the Fund), formerly ProShares UltraShort DJ-AIG Commodity is an exchange-traded fund (ETF). The Fund seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of The Dow Jones-UBS Commodity Index. The Dow Jones-UBS Commodity Index allows investors to track the commodity futures market.

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