BidaskClub Downgrades Dril-Quip, Inc. (DRQ) to Sell
BidaskClub lowered shares of Dril-Quip, Inc. (NYSE:DRQ) from a hold rating to a sell rating in a report published on Thursday.
Other analysts have also issued reports about the stock. Barclays PLC lowered shares of Dril-Quip from an overweight rating to an equal weight rating and lowered their price objective for the stock from $77.00 to $57.00 in a report on Monday, May 1st. Zacks Investment Research upgraded shares of Dril-Quip from a sell rating to a hold rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Dril-Quip currently has a consensus rating of Hold and a consensus price target of $60.75.
Shares of Dril-Quip (NYSE:DRQ) opened at 45.10 on Thursday. The firm’s 50-day moving average price is $49.90 and its 200-day moving average price is $54.56. Dril-Quip has a one year low of $45.10 and a one year high of $69.40. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 30.09 and a beta of 0.65.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.13%. The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $112.12 million. During the same period last year, the business posted $0.96 earnings per share. Dril-Quip’s quarterly revenue was down 10.2% compared to the same quarter last year. Analysts anticipate that Dril-Quip will post $0.19 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. First Quadrant L P CA raised its position in Dril-Quip by 2.3% in the first quarter. First Quadrant L P CA now owns 474,734 shares of the oil and gas company’s stock valued at $25,897,000 after buying an additional 10,462 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Dril-Quip during the first quarter valued at about $483,000. Speece Thorson Capital Group Inc. raised its position in Dril-Quip by 25.4% in the first quarter. Speece Thorson Capital Group Inc. now owns 302,712 shares of the oil and gas company’s stock valued at $16,513,000 after buying an additional 61,292 shares during the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new position in Dril-Quip during the first quarter valued at about $17,129,000. Finally, Retirement Systems of Alabama raised its position in Dril-Quip by 0.6% in the first quarter. Retirement Systems of Alabama now owns 48,808 shares of the oil and gas company’s stock valued at $2,662,000 after buying an additional 277 shares during the last quarter.
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.
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