Dresser-Rand Group Upgraded to “Buy” by Guggenheim (DRC)
Dresser-Rand Group (NYSE:DRC) was upgraded by equities researchers at Guggenheim from a “neutral” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
Shares of Dresser-Rand Group (NYSE:DRC) opened at 64.02 on Thursday. Dresser-Rand Group has a 1-year low of $51.46 and a 1-year high of $71.91. The stock has a 50-day moving average of $62.58 and a 200-day moving average of $59.85. The company has a market cap of $4.905 billion and a P/E ratio of 38.60. Dresser-Rand Group also was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,933,501 shares, a drop of 38.3% from the July 15th total of 3,135,189 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average daily volume of 1,734,833 shares, the short-interest ratio is presently 1.1 days.
Dresser-Rand Group (NYSE:DRC) last issued its quarterly earnings data 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 $2.60 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DRC. Analysts at Cowen and Company raised their price target on shares of Dresser-Rand Group from $54.00 to $59.00 in a research note on Wednesday, August 6th. They now have a “market perform” rating on the stock. Separately, 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, August 6th. Finally, 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, August 6th. They now have a $68.00 price target on the stock, down previously from $71.00. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $65.10.
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.
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