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.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/11/dril-quip-inc-drq-given-average-recommendation-of-hold-by-analysts.html.

About Dril-Quip

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.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

Receive News & Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related companies with MarketBeat.com's FREE daily email newsletter.