Global Hunter Securities Increases Dresser-Rand Group Price Target to $73.00 (DRC)
Research analysts at Global Hunter Securities upped their price objective on shares of Dresser-Rand Group (NYSE:DRC) from $69.00 to $73.00 in a report released on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Global Hunter Securities’ target price would suggest a potential upside of 15.25% from the stock’s previous close.
Dresser-Rand Group (NYSE:DRC) traded up 0.48% during mid-day trading on Wednesday, hitting $63.34. The stock had a trading volume of 514,934 shares. Dresser-Rand Group has a 52-week low of $48.74 and a 52-week high of $67.38. The stock’s 50-day moving average is $61.75 and its 200-day moving average is $60.49. The company has a market cap of $4.830 billion and a price-to-earnings ratio of 23.29.
Dresser-Rand Group (NYSE:DRC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.69 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.12. The company had revenue of $805.30 million for the quarter, compared to the consensus estimate of $836.76 million. During the same quarter last year, the company posted $0.45 earnings per share. Dresser-Rand Group’s revenue was up 26.7% compared to the same quarter last year. On average, analysts predict that Dresser-Rand Group will post $3.17 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on DRC. Analysts at Raymond James initiated coverage on shares of Dresser-Rand Group (NYSE:DRC) in a research note to investors on Wednesday, August 14th. They set an “outperform” rating and a $61.22 price target on the stock. Separately, analysts at Guggenheim raised their price target on shares of Dresser-Rand Group (NYSE:DRC) from $62.00 to $68.00 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Dresser-Rand Group (NYSE:DRC) from $61.00 to $58.00 in a research note to investors on Monday, July 29th. They now have a “neutral” rating on the stock.
Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.22.
In other Dresser-Rand Group news, VP Gustavo Nechar sold 3,854 shares of Dresser-Rand Group stock on the open market in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $62.54, for a total value of $241,029.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Dresser-Rand Group Inc is a global supplier of of custom-engineered rotating equipment solutions for long-life, critical applications in the oil, gas, chemical, petrochemical, process, power generation, military and other industries worldwide.
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