Dril-Quip, Inc. (DRQ) Given Average Recommendation of “Hold” by Analysts
Dril-Quip, Inc. (NYSE:DRQ) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $62.17.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $77.00 to $57.00 in a research report on Monday, May 1st. Finally, BidaskClub raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th.
A number of hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Dril-Quip during the first quarter worth about $483,000. Russell Investments Group Ltd. purchased a new stake in Dril-Quip during the fourth quarter worth about $2,190,000. Norges Bank purchased a new stake in Dril-Quip during the fourth quarter worth about $24,435,000. Guggenheim Capital LLC increased its stake in Dril-Quip by 48.8% in the fourth quarter. Guggenheim Capital LLC now owns 42,447 shares of the oil and gas company’s stock worth $2,549,000 after buying an additional 13,914 shares during the last quarter. Finally, Boston Partners increased its stake in Dril-Quip by 20.3% in the first quarter. Boston Partners now owns 357,477 shares of the oil and gas company’s stock worth $19,500,000 after buying an additional 60,286 shares during the last quarter.
Shares of Dril-Quip (NYSE DRQ) traded up 1.22% during midday trading on Tuesday, hitting $49.80. The stock had a trading volume of 602,257 shares. Dril-Quip has a 12 month low of $46.60 and a 12 month high of $69.40. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 33.22 and a beta of 0.65. The stock’s 50 day moving average price is $51.00 and its 200 day moving average price is $56.29.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, April 27th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.01. Dril-Quip had a net margin of 11.51% and a return on equity of 3.65%. The company had revenue of $119.23 million for the quarter, compared to analysts’ expectations of $97.62 million. During the same period in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was down 28.4% on a year-over-year basis. On average, equities analysts forecast that Dril-Quip will post $0.14 EPS for the current fiscal year.
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Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
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