Analysts Set Dril-Quip, Inc. (DRQ) PT at $62.17
Dril-Quip, Inc. (NYSE:DRQ) has been given a consensus rating of “Hold” by the nine research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $53.67.
Several research firms recently commented on DRQ. BidaskClub upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Piper Jaffray Companies set a $43.00 price objective on Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. Scotiabank set a $61.00 price objective on Dril-Quip and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $77.00 to $57.00 in a report on Monday, May 1st.
Dril-Quip (NYSE:DRQ) opened at 41.95 on Tuesday. Dril-Quip has a one year low of $41.42 and a one year high of $69.40. The firm has a 50 day moving average of $48.70 and a 200 day moving average of $53.93. The firm has a market capitalization of $1.59 billion, a PE ratio of 77.97 and a beta of 0.63.
Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. Equities analysts forecast that Dril-Quip will post $0.10 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRQ. FMR LLC raised its position in Dril-Quip by 0.6% in the first quarter. FMR LLC now owns 5,073,126 shares of the oil and gas company’s stock worth $276,739,000 after buying an additional 30,340 shares during the last quarter. BlackRock Inc. raised its position in shares of Dril-Quip by 8,615.2% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Dril-Quip by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock valued at $169,548,000 after buying an additional 124,962 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Dril-Quip by 31.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,193 shares of the oil and gas company’s stock valued at $133,929,000 after buying an additional 587,520 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Dril-Quip by 8.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,216,122 shares of the oil and gas company’s stock valued at $120,889,000 after buying an additional 167,173 shares in the last quarter.
Dril-Quip Company Profile
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
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