Shares of Dril-Quip Inc. (NYSE:DRQ) traded up 5.3% during trading on Tuesday . The stock traded as high as $59.76 and last traded at $59.53, with a volume of 175,765 shares changing hands. The stock had previously closed at $56.56.

Several analysts have commented on the stock. Cowen and Company increased their price target on shares of Dril-Quip from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, April 27th. Morgan Stanley reissued a “hold” rating on shares of Dril-Quip in a research report on Tuesday, April 26th. Barclays PLC raised shares of Dril-Quip from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $56.00 to $66.00 in a research report on Wednesday, April 20th. Zacks Investment Research lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Finally, Simmons lowered shares of Dril-Quip from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $58.00 to $50.00 in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.87.

The company has a market cap of $2.24 billion and a price-to-earnings ratio of 12.90. The company has a 50-day moving average of $60.05 and a 200-day moving average of $58.14.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Tuesday, April 26th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.14. The company earned $166.60 million during the quarter, compared to analyst estimates of $167.40 million. The business’s revenue was down 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Equities research analysts expect that Dril-Quip Inc. will post $2.59 earnings per share for the current year.

Several hedge funds and institutional investors have modified their holdings of DRQ. Foresters Investment Management Company Inc. increased its position in shares of Dril-Quip by 139.4% in the fourth quarter. Foresters Investment Management Company Inc. now owns 79,850 shares of the company’s stock worth $4,730,000 after buying an additional 46,500 shares in the last quarter. Marshall Wace LLP increased its position in shares of Dril-Quip by 359.9% in the fourth quarter. Marshall Wace LLP now owns 169,350 shares of the company’s stock worth $10,030,000 after buying an additional 132,530 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Dril-Quip by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 124,476 shares of the company’s stock worth $7,373,000 after buying an additional 2,736 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Dril-Quip by 210.2% in the fourth quarter. Ameritas Investment Partners Inc. now owns 18,003 shares of the company’s stock worth $1,066,000 after buying an additional 12,200 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Dril-Quip by 42.3% in the fourth quarter. Morgan Stanley now owns 38,415 shares of the company’s stock worth $2,275,000 after buying an additional 11,412 shares in 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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