Dresser-Rand Group Stock Price Up 8.9% Following Analyst Upgrade (DRC)
Shares of Dresser-Rand Group (NYSE:DRC) rose 8.9% during trading on Thursday after Cowen and Company raised their price target on the stock from $54.00 to $59.00, Stock Ratings Network reports. Cowen and Company currently has a market perform rating on the stock. Dresser-Rand Group traded as high as $65.66 and last traded at $62.96, with a volume of 5,184,150 shares traded. The stock had previously closed at $57.80.
Several other analysts have also recently commented on 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $65.10.
The stock’s 50-day moving average is $62.48 and its 200-day moving average is $59.72. The company has a market cap of $4.824 billion and a price-to-earnings ratio of 34.82.
Dresser-Rand Group (NYSE:DRC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.38 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.69 earnings per share. Dresser-Rand Group’s revenue was down 22.0% compared to the same quarter last year. On average, analysts predict that Dresser-Rand Group will post $2.61 earnings per share for the current fiscal year.
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.