Dril-Quip Upgraded by Global Hunter Securities to “Buy” (DRQ)
Dril-Quip (NYSE:DRQ) was upgraded by equities researchers at Global Hunter Securities from an “accumulate” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $132.00 price objective on the stock. Global Hunter Securities’ price target points to a potential upside of 19.11% from the company’s current price.
Dril-Quip (NYSE:DRQ) traded up 4.96% during mid-day trading on Monday, hitting $116.32. 133,168 shares of the company’s stock traded hands. Dril-Quip has a one year low of $65.16 and a one year high of $121.07. The stock has a 50-day moving average of $115.7 and a 200-day moving average of $99.46. The company has a market cap of $4.732 billion and a price-to-earnings ratio of 29.39.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.05 by $0.07. The company had revenue of $224.70 million for the quarter, compared to the consensus estimate of $226.70 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts predict that Dril-Quip will post $4.08 earnings per share for the current fiscal year.
In other Dril-Quip news, CEO Blake T. Deberry sold 1,702 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $116.37, for a total value of $198,061.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
DRQ has been the subject of a number of other recent research reports. Analysts at Robert W. Baird initiated coverage on shares of Dril-Quip in a research note to investors on Monday, October 14th. They set a “neutral” rating and a $129.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Dril-Quip 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. Finally, analysts at Howard Weil upgraded shares of Dril-Quip 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $117.00.
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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