Dril-Quip, Inc. (DRQ) Stock Rating Lowered by BidaskClub
Dril-Quip, Inc. (NYSE:DRQ) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Other analysts have also recently issued reports about the company. Piper Jaffray Companies set a $43.00 price target on Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Scotiabank set a $61.00 target price on Dril-Quip and gave the company a “hold” rating in a report on Monday, July 31st. Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $77.00 to $57.00 in a report on Monday, May 1st. Finally, Cowen and Company reduced their target price on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.00.
Dril-Quip (NYSE DRQ) traded up 0.48% on Thursday, reaching $41.60. 27,529 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $47.94 and its 200 day moving average is $53.41. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 77.32 and a beta of 0.63. Dril-Quip has a 52 week low of $40.75 and a 52 week high of $69.40.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 earnings per share. On average, equities analysts anticipate that Dril-Quip will post $0.10 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in DRQ. FMR LLC boosted its stake in shares of Dril-Quip by 0.6% in the first quarter. FMR LLC now owns 5,073,126 shares of the oil and gas company’s stock valued at $276,739,000 after buying an additional 30,340 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Dril-Quip by 8,615.2% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Dril-Quip by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock valued at $169,548,000 after buying an additional 124,962 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dril-Quip by 31.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,193 shares of the oil and gas company’s stock valued at $133,929,000 after buying an additional 587,520 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Dril-Quip by 8.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,216,122 shares of the oil and gas company’s stock valued at $120,889,000 after buying an additional 167,173 shares during the last quarter.
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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