Share on StockTwits

Analysts at Cowen and Company raised their target price on shares of Dresser-Rand Group (NYSE:DRC) from $54.00 to $59.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s target price indicates a potential downside of 1.27% from the company’s current price.

Dresser-Rand Group (NYSE:DRC) traded down 1.27% during mid-day trading on Wednesday, hitting $59.00. 445,928 shares of the company’s stock traded hands. Dresser-Rand Group has a one year low of $51.46 and a one year high of $71.91. The stock’s 50-day moving average is $62.61 and its 200-day moving average is $59.71. The company has a market cap of $4.520 billion and a price-to-earnings ratio of 36.00.

Dresser-Rand Group (NYSE:DRC) last announced its earnings results on Monday, August 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.02. The company had revenue of $628.40 million for the quarter, compared to the consensus estimate of $713.46 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 22.0% on a year-over-year basis. On average, analysts predict that Dresser-Rand Group will post $2.65 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna cut their price target on shares of Dresser-Rand Group from $72.00 to $70.00 in a research note on Wednesday. Separately, analysts at Global Hunter Securities downgraded shares of Dresser-Rand Group from a “buy” rating to an “accumulate” rating in a research note on Wednesday. They now have a $68.00 price target on the stock, down previously from $71.00. Finally, analysts at Robert W. Baird initiated coverage on shares of Dresser-Rand Group in a research note on Tuesday, July 15th. They set a “neutral” rating and a $66.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $64.91.

Dresser-Rand Group Inc is a global supplier of of custom-engineered rotating equipment solutions for long-life, critical applications in the oil, gas, chemical, petrochemical, process, power generation, military and other industries worldwide.

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.