Dril-Quip Coverage Initiated at Johnson Rice (DRQ)
Research analysts at Johnson Rice started coverage on shares of Dril-Quip (NYSE:DRQ) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set an “equal weight” rating and a $120.00 price target on the stock. Johnson Rice’s price objective suggests a potential upside of 12.68% from the company’s current price.
Dril-Quip (NYSE:DRQ) traded down 0.62% on Tuesday, hitting $105.845. 91,072 shares of the company’s stock traded hands. Dril-Quip has a one year low of $89.97 and a one year high of $121.07. The stock has a 50-day moving average of $104. and a 200-day moving average of $105.8. The company has a market cap of $4.322 billion and a price-to-earnings ratio of 25.24.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, May 9th. The company reported $1.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.20 by $0.16. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $241.70 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Dril-Quip will post $4.96 EPS for the current fiscal year.
DRQ has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Dril-Quip in a research note on Wednesday, June 25th. They now have a $111.00 price target on the stock. Separately, analysts at Guggenheim reiterated a “neutral” rating on shares of Dril-Quip in a research note on Wednesday, May 14th. They now have a $110.00 price target on the stock, down previously from $120.00. Finally, analysts at Sterne Agee reiterated a “neutral” rating on shares of Dril-Quip in a research note on Tuesday, May 13th. They now have a $115.00 price target on the stock, down previously from $117.00. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $120.00.
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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