Analysts Set Dril-Quip, Inc. (DRQ) PT at $49.50
Dril-Quip, Inc. (NYSE:DRQ) has earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $49.50.
DRQ has been the subject of several recent analyst reports. FBR & Co raised Dril-Quip from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $55.00 in a report on Tuesday, October 10th. Zacks Investment Research raised Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, November 1st. B. Riley reissued a “buy” rating on shares of Dril-Quip in a report on Wednesday, November 1st. TheStreet lowered Dril-Quip from a “c” rating to a “d+” rating in a research note on Friday, October 27th. Finally, Gabelli began coverage on Dril-Quip in a research note on Friday, October 20th. They issued a “hold” rating and a $43.00 target price for the company.
WARNING: This piece of content was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://theolympiareport.com/2017/11/17/analysts-set-dril-quip-inc-drq-pt-at-49-50.html.
Shares of Dril-Quip (DRQ) traded up $0.15 during midday trading on Monday, hitting $44.50. The stock had a trading volume of 420,114 shares, compared to its average volume of 570,728. Dril-Quip has a 52 week low of $35.85 and a 52 week high of $69.40. The stock has a market capitalization of $1,694.26, a price-to-earnings ratio of 106.55 and a beta of 0.68.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company had revenue of $100.35 million during the quarter, compared to analyst estimates of $106.74 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Dril-Quip’s revenue was down 18.8% on a year-over-year basis. sell-side analysts predict that Dril-Quip will post 0.18 EPS for the current fiscal year.
In other news, COO James A. Gariepy sold 13,409 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $556,339.41. Following the completion of the sale, the chief operating officer now owns 104,753 shares of the company’s stock, valued at $4,346,201.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Blake T. Deberry sold 14,819 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $614,840.31. Following the sale, the insider now directly owns 113,175 shares of the company’s stock, valued at approximately $4,695,630.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,662 shares of company stock valued at $1,567,399. Insiders own 0.87% of the company’s stock.
Several large investors have recently added to or reduced their stakes in DRQ. Riverhead Capital Management LLC boosted its stake in shares of Dril-Quip by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 1,063 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Dril-Quip during the third quarter valued at approximately $136,000. QS Investors LLC boosted its stake in shares of Dril-Quip by 0.5% during the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 13 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Dril-Quip by 17.6% during the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after purchasing an additional 450 shares during the period. Finally, Flinton Capital Management LLC boosted its stake in shares of Dril-Quip by 64.8% during the second quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,596 shares during the period.
Dril-Quip Company Profile
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.
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 Analyst Ratings Network's FREE daily email newsletter.