Dril-Quip Inc. (NYSE:DRQ)’s share price traded down 1.1% during trading on Monday . The company traded as low as $56.49 and last traded at $56.54, with a volume of 129,152 shares. The stock had previously closed at $57.15.

A number of equities research analysts have recently issued reports on DRQ shares. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. started coverage on shares of Dril-Quip in a research note on Wednesday, June 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Simmons cut shares of Dril-Quip from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $58.00 to $50.00 in a research note on Thursday, April 28th. Piper Jaffray Cos. cut shares of Dril-Quip from an “overweight” rating to a “neutral” rating in a research note on Thursday, April 28th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Dril-Quip in a research note on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $64.87.

The company has a 50 day moving average of $60.03 and a 200-day moving average of $58.14. The company has a market capitalization of $2.21 billion and a PE ratio of 12.75.

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

Other large investors have made changes to their positions in the company. Boston Partners acquired a new stake in shares of Dril-Quip during the fourth quarter valued at $9,199,000. Marshall Wace LLP boosted its stake 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 valued at $10,030,000 after buying an additional 132,530 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Dril-Quip by 41.2% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 193,006 shares of the company’s stock valued at $11,431,000 after buying an additional 56,302 shares in the last quarter. Foresters Investment Management Company Inc. boosted its stake 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 valued at $4,730,000 after buying an additional 46,500 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Dril-Quip by 10.9% in the fourth quarter. First Trust Advisors LP now owns 195,311 shares of the company’s stock valued at $11,568,000 after buying an additional 19,243 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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