Dril-Quip Inc. (DRQ) Given Average Rating of “Hold” by Analysts
Shares of Dril-Quip Inc. (NYSE:DRQ) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $62.69.
Several analysts have issued reports on DRQ shares. JPMorgan Chase & Co. started coverage on shares of Dril-Quip in a research report on Wednesday, June 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Cowen and Company reiterated a “market perform” rating and set a $60.00 target price on shares of Dril-Quip in a research note on Tuesday. Zacks Investment Research upgraded Dril-Quip from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research note on Wednesday, July 20th. Scotiabank reiterated a “sector perform” rating and set a $67.00 target price (down from $72.00) on shares of Dril-Quip in a research note on Sunday, July 31st. Finally, Morgan Stanley reiterated a “hold” rating and set a $73.00 target price on shares of Dril-Quip in a research note on Monday, August 1st.
Shares of Dril-Quip (NYSE:DRQ) traded up 1.59% during trading on Wednesday, reaching $54.15. 320,497 shares of the company’s stock traded hands. The company has a 50 day moving average of $54.25 and a 200-day moving average of $57.88. Dril-Quip has a 1-year low of $48.88 and a 1-year high of $66.73. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 11.97 and a beta of 0.77.
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Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.29. Dril-Quip had a net margin of 24.16% and a return on equity of 10.92%. The company earned $142.40 million during the quarter, compared to the consensus estimate of $149.33 million. During the same quarter last year, the company earned $1.01 earnings per share. Dril-Quip’s revenue for the quarter was down 33.8% on a year-over-year basis. Equities analysts predict that Dril-Quip will post $2.17 earnings per share for the current year.
A number of large investors have recently bought and sold shares of DRQ. Commerce Bank boosted its stake in Dril-Quip by 0.5% in the second quarter. Commerce Bank now owns 5,135 shares of the company’s stock worth $300,000 after buying an additional 25 shares during the last quarter. State Treasurer State of Michigan boosted its stake in Dril-Quip by 0.7% in the second quarter. State Treasurer State of Michigan now owns 15,200 shares of the company’s stock worth $888,000 after buying an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Dril-Quip by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 18,202 shares of the company’s stock worth $1,063,000 after buying an additional 199 shares during the last quarter. Legal & General Group Plc boosted its stake in Dril-Quip by 5.0% in the second quarter. Legal & General Group Plc now owns 4,148 shares of the company’s stock worth $242,000 after buying an additional 199 shares during the last quarter. Finally, CrestPoint Capital Management LLC boosted its stake in Dril-Quip by 1.9% in the second quarter. CrestPoint Capital Management LLC now owns 11,000 shares of the company’s stock worth $643,000 after buying an additional 200 shares during the last quarter.
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.
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