Shares of Dril-Quip, Inc. (NYSE:DRQ) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $46.96.
A number of analysts recently issued reports on the company. Cowen reissued a “market perform” rating and set a $44.00 price objective (up previously from $39.00) on shares of Dril-Quip in a research report on Tuesday, April 30th. TheStreet raised Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, July 30th. ValuEngine raised Dril-Quip from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Gabelli upgraded Dril-Quip from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Finally, Zacks Investment Research lowered Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a report on Monday, July 29th.
In other Dril-Quip news, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $51.63, for a total transaction of $516,300.00. Following the transaction, the insider now directly owns 149,242 shares in the company, valued at $7,705,364.46. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DRQ. Kavar Capital Partners LLC bought a new position in shares of Dril-Quip in the second quarter worth about $27,000. Parallel Advisors LLC acquired a new stake in Dril-Quip during the first quarter worth about $38,000. Quadrant Capital Group LLC acquired a new stake in Dril-Quip during the first quarter worth about $48,000. Quantamental Technologies LLC acquired a new stake in Dril-Quip during the first quarter worth about $68,000. Finally, Unison Advisors LLC acquired a new stake in Dril-Quip during the first quarter worth about $204,000.
DRQ traded down $2.37 during trading on Wednesday, reaching $47.07. 68,786 shares of the stock traded hands, compared to its average volume of 370,995. The stock has a market cap of $1.79 billion, a PE ratio of -74.71 and a beta of 1.47. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $54.51. The firm’s 50-day moving average price is $46.58.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $97.19 million. Dril-Quip had a negative net margin of 23.06% and a negative return on equity of 1.04%. Dril-Quip’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.24) EPS. Equities research analysts predict that Dril-Quip will post 0.12 earnings per share for the current fiscal year.
Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.
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