Dril-Quip Stock Rating Lowered by ISI Group (DRQ)
Dril-Quip (NYSE:DRQ) was downgraded by ISI Group from a “strong-buy” rating to a “buy” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Dril-Quip in a research note to investors on Thursday, December 26th. They now have a $133.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Dril-Quip from $119.00 to $120.00 in a research note to investors on Thursday, December 19th. Finally, analysts at Barclays raised their price target on shares of Dril-Quip from $127.00 to $142.00 in a research note to investors on Tuesday, December 17th. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Dril-Quip has an average rating of “Buy” and a consensus price target of $119.18.
Dril-Quip (NYSE:DRQ) last released its earnings data 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.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.