Dril-Quip Inc. Hits New 52-Week High at $116.19 (DRQ)
Shares of Dril-Quip (NYSE:DRQ) hit a new 52-week high during trading hours on Tuesday, AR Network reports. The company traded as high as $116.19 and last traded at $115.56, with a volume of 227,776 shares trading hands. The stock had previously closed at $114.75.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Dril-Quip (NYSE:DRQ) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 18th. They now have a $137.00 price target on the stock. Separately, analysts at Howard Weil upgraded shares of Dril-Quip (NYSE:DRQ) from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, August 28th. They now have a $130.00 price target on the stock, up previously from $101.00. Finally, analysts at Guggenheim raised their price target on shares of Dril-Quip (NYSE:DRQ) from $95.00 to $110.00 in a research note to investors on Tuesday, August 6th. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $114.90.
Dril-Quip has a 52 week low of $65.16 and a 52 week high of $116.41. The stock’s 50-day moving average is $108.4 and its 200-day moving average is $94.50. The company has a market cap of $4.724 billion and a price-to-earnings ratio of 32.59.
Dril-Quip (NYSE:DRQ) last released its earnings data on Friday, August 2nd. The company reported $1.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.17. The company had revenue of $222.00 million for the quarter, compared to the consensus estimate of $202.13 million. During the same quarter last year, the company posted $0.74 earnings per share. Dril-Quip’s revenue was up 25.7% compared to the same quarter last year. Analysts expect that Dril-Quip will post $4.09 EPS for the current fiscal year.
Dril-Quip, Inc (NYSE:DRQ), designs, manufactures, sells and services offshore drilling and production equipment for use in deepwater, harsh environment and severe service applications.
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