Dresser-Rand Group Short Interest Down 38.3% in July (DRC)
Dresser-Rand Group (NYSE:DRC) saw a significant drop in short interest in 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, AnalystRatings.Net reports. Currently, 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 1,734,833 shares, the days-to-cover ratio is currently 1.1 days.
A number of analysts have recently weighed in on DRC shares. Analysts at Guggenheim upgraded shares of Dresser-Rand Group from a “neutral” rating to a “buy” rating in a research note on Thursday, August 14th. They now have a $100.00 price target on the stock. Separately, 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. Finally, 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. Two equities research 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $68.27.
Shares of Dresser-Rand Group (NYSE:DRC) opened at 67.01 on Wednesday. Dresser-Rand Group has a 52 week low of $51.46 and a 52 week high of $71.91. The stock’s 50-day moving average is $62.93 and its 200-day moving average is $60.15. The company has a market cap of $5.134 billion and a price-to-earnings ratio of 40.07.
Dresser-Rand Group (NYSE:DRC) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down 22.0% on a year-over-year basis. On average, analysts predict that Dresser-Rand Group will post $2.60 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.
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