Atwood Oceanics Upgraded to Overweight by Johnson Rice (ATW)
Atwood Oceanics (NYSE:ATW) was upgraded by equities researchers at Johnson Rice from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Atwood Oceanics (NYSE:ATW) opened at 54.49 on Monday. Atwood Oceanics has a 52-week low of $43.21 and a 52-week high of $59.49. The stock’s 50-day moving average is $56.62 and its 200-day moving average is $53.76. The company has a market cap of $3.485 billion and a P/E ratio of 10.48.
Atwood Oceanics (NYSE:ATW) last announced its earnings results on Wednesday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. The company had revenue of $272.69 million for the quarter, compared to the consensus estimate of $271.58 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. Analysts expect that Atwood Oceanics will post $5.24 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ATW. Analysts at Wunderlich initiated coverage on shares of Atwood Oceanics (NYSE:ATW) in a research note to investors on Wednesday, September 4th. They set a “hold” rating and a $63.00 price target on the stock. Separately, analysts at Tudor Pickering downgraded shares of Atwood Oceanics (NYSE:ATW) from a “buy” rating to an “accumulate” rating in a research note to investors on Monday, August 12th. Finally, analysts at Jefferies Group raised their price target on shares of Atwood Oceanics (NYSE:ATW) from $64.00 to $65.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.54.
Atwood Oceanics, Inc, along with its subsidiaries, is engaged in the international offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells.
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