Dril-Quip Inc. (DRQ) Given Consensus Recommendation of “Hold” by Analysts
Shares of Dril-Quip Inc. (NYSE:DRQ) have received a consensus rating of “Hold” from the seventeen analysts that are currently covering the company. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $60.21.
A number of analysts have weighed in on the company. Morgan Stanley restated a “hold” rating and set a $73.00 target price on shares of Dril-Quip in a report on Monday, August 1st. Howard Weil lowered their target price on Dril-Quip from $67.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, October 27th. Zacks Investment Research upgraded Dril-Quip from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 19th. Scotiabank restated a “sector perform” rating and set a $67.00 target price (down previously from $72.00) on shares of Dril-Quip in a report on Sunday, July 31st. Finally, Evercore ISI assumed coverage on Dril-Quip in a report on Thursday, November 17th. They set a “buy” rating and a $59.00 price objective for the company.
Shares of Dril-Quip (NYSE:DRQ) opened at 54.25 on Wednesday. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 14.58 and a beta of 0.60. The company has a 50 day moving average price of $52.34 and a 200 day moving average price of $56.11. Dril-Quip has a one year low of $46.90 and a one year high of $66.73.
Dril-Quip (NYSE:DRQ) last posted its earnings results on Thursday, October 27th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. The company earned $123.60 million during the quarter, compared to analyst estimates of $120.30 million. Dril-Quip had a return on equity of 8.51% and a net margin of 22.12%. Dril-Quip’s revenue was down 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. Equities analysts predict that Dril-Quip will post $2.16 EPS for the current year.
In other Dril-Quip news, COO James A. Gariepy sold 8,676 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $47.59, for a total transaction of $412,890.84. Following the sale, the chief operating officer now directly owns 78,306 shares of the company’s stock, valued at approximately $3,726,582.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Blake T. Deberry sold 9,101 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $47.59, for a total value of $433,116.59. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. LS Investment Advisors LLC increased its stake in shares of Dril-Quip by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,281 shares of the company’s stock valued at $133,000 after buying an additional 968 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Dril-Quip during the second quarter worth approximately $153,000. KBC Group NV boosted its stake in Dril-Quip by 647.0% in the third quarter. KBC Group NV now owns 3,354 shares of the company’s stock worth $187,000 after buying an additional 2,905 shares during the period. Oakbrook Investments LLC acquired a new stake in Dril-Quip during the second quarter worth approximately $202,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Dril-Quip during the second quarter worth approximately $206,000.
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Dril-Quip Company Profile
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.
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