Atwood Oceanics Given New $62.00 Price Target at Cowen and Company (ATW)
Cowen and Company reduced their price objective on shares of Atwood Oceanics (NYSE:ATW) from $70.00 to $62.00 in a research note issued on Friday, Analyst RN reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price points to a potential upside of 36.50% from the company’s current price.
Atwood Oceanics (NYSE:ATW) traded down 1.86% during mid-day trading on Friday, hitting $45.42. The stock had a trading volume of 942,556 shares. Atwood Oceanics has a 1-year low of $43.91 and a 1-year high of $59.49. The stock has a 50-day moving average of $49.84 and a 200-day moving average of $54.03. The company has a market cap of $2.910 billion and a price-to-earnings ratio of 8.70.
Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The company had revenue of $284.70 million for the quarter, compared to the consensus estimate of $288.82 million. During the same quarter last year, the company posted $1.10 earnings per share. Atwood Oceanics’s revenue was up 16.2% compared to the same quarter last year. Analysts expect that Atwood Oceanics will post $5.83 EPS for the current fiscal year.
A number of other firms have also recently commented on ATW. Analysts at Raymond James downgraded shares of Atwood Oceanics from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, analysts at Credit Suisse downgraded shares of Atwood Oceanics from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, January 17th. Finally, analysts at Barclays cut their price target on shares of Atwood Oceanics from $79.00 to $78.00 in a research note to investors on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $64.88.
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.
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.