Atwood Oceanics Inc. (NYSE:ATW) was downgraded by BMO Capital Markets from a “market perform” rating to an “underperform” rating in a report released on Monday. They presently have a $7.00 target price on the stock, down from their previous target price of $8.00. BMO Capital Markets’ price objective suggests a potential downside of 23.66% from the stock’s current price.

A number of other research firms have also recently weighed in on ATW. Wood & Company raised Atwood Oceanics to a “strong-buy” rating in a research report on Thursday, July 7th. Citigroup Inc. lowered their price objective on Atwood Oceanics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Royal Bank Of Canada lowered their price objective on Atwood Oceanics from $14.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday, August 12th. Vetr raised Atwood Oceanics from a “buy” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, July 6th. Finally, Jefferies Group set a $8.00 price objective on Atwood Oceanics and gave the stock a “hold” rating in a research report on Wednesday, September 28th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Atwood Oceanics has a consensus rating of “Hold” and a consensus target price of $10.64.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

Shares of Atwood Oceanics (NYSE:ATW) opened at 9.17 on Monday. The company has a market cap of $594.22 million, a price-to-earnings ratio of 1.45 and a beta of 2.22. Atwood Oceanics has a 12-month low of $4.82 and a 12-month high of $19.65. The firm’s 50-day moving average price is $8.05 and its 200 day moving average price is $9.88.

Atwood Oceanics (NYSE:ATW) last announced its earnings results on Monday, August 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.63. The business had revenue of $227.80 million for the quarter, compared to analysts’ expectations of $232.74 million. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The business’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. On average, analysts predict that Atwood Oceanics will post $4.70 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the company. Key Group Holdings Cayman LTD. increased its stake in Atwood Oceanics by 91.7% in the second quarter. Key Group Holdings Cayman LTD. now owns 2,800,023 shares of the company’s stock valued at $35,056,000 after buying an additional 1,339,490 shares in the last quarter. BlackRock Fund Advisors increased its stake in Atwood Oceanics by 27.6% in the first quarter. BlackRock Fund Advisors now owns 4,112,195 shares of the company’s stock valued at $37,709,000 after buying an additional 890,165 shares in the last quarter. Geode Capital Management LLC increased its stake in Atwood Oceanics by 75.8% in the first quarter. Geode Capital Management LLC now owns 1,745,643 shares of the company’s stock valued at $16,007,000 after buying an additional 752,887 shares in the last quarter. Acadian Asset Management LLC increased its stake in Atwood Oceanics by 624.4% in the second quarter. Acadian Asset Management LLC now owns 820,195 shares of the company’s stock valued at $10,270,000 after buying an additional 706,971 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Atwood Oceanics by 141.3% in the first quarter. Prudential Financial Inc. now owns 806,543 shares of the company’s stock valued at $7,396,000 after buying an additional 472,341 shares in the last quarter.

Atwood Oceanics Company Profile

Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.

5 Day Chart for NYSE:ATW

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