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Unit (NYSE:UNT)’s share price reached a new 52-week high on Monday , Analyst Ratings News reports. The stock traded as high as $68.63 and last traded at $68.50, with a volume of 113,723 shares trading hands. The stock had previously closed at $68.05.

Several analysts have recently commented on the stock. Analysts at Iberia Capital initiated coverage on shares of Unit in a research note on Friday. They set a “sector perform” rating and a $73.00 price target on the stock. Analysts at Zacks downgraded shares of Unit from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $70.60 price target on the stock. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.70.

The stock has a 50-day moving average of $65.02 and a 200-day moving average of $59.37. The company has a market cap of $3.412 billion and a P/E ratio of 16.44. Unit also was the recipient of a significant decrease in short interest in the month of June. As of June 13th, there was short interest totalling 749,010 shares, a decrease of 30.1% from the May 30th total of 1,071,969 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 212,645 shares, the short-interest ratio is presently 3.5 days.

Unit (NYSE:UNT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.14 by $0.15. Analysts expect that Unit will post $4.92 EPS for the current fiscal year.

Unit Corporation (NYSE:UNT) is a contract drilling company.

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