Dril-Quip, Inc. (DRQ) Receives $48.83 Consensus Price Target from Analysts
Shares of Dril-Quip, Inc. (NYSE:DRQ) have been given an average rating of “Hold” by the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.83.
A number of research analysts have recently commented on DRQ shares. B. Riley set a $55.00 price target on Dril-Quip and gave the company a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research lowered Dril-Quip from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Piper Jaffray Companies set a $40.00 price target on Dril-Quip and gave the company a “hold” rating in a report on Thursday, March 8th. Cowen set a $45.00 target price on Dril-Quip and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of Dril-Quip in a report on Thursday, February 22nd.
A number of large investors have recently added to or reduced their stakes in DRQ. Schroder Investment Management Group acquired a new position in Dril-Quip during the fourth quarter worth about $13,351,000. Wells Fargo & Company MN boosted its position in shares of Dril-Quip by 43.4% in the 3rd quarter. Wells Fargo & Company MN now owns 842,542 shares of the oil and gas company’s stock valued at $37,199,000 after purchasing an additional 255,037 shares during the period. Boston Partners boosted its position in shares of Dril-Quip by 68.3% in the 4th quarter. Boston Partners now owns 617,025 shares of the oil and gas company’s stock valued at $29,432,000 after purchasing an additional 250,480 shares during the period. Deutsche Bank AG boosted its position in shares of Dril-Quip by 72.9% in the 4th quarter. Deutsche Bank AG now owns 576,841 shares of the oil and gas company’s stock valued at $27,513,000 after purchasing an additional 243,127 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of Dril-Quip in the 4th quarter valued at $9,070,000.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $107.97 million for the quarter, compared to analyst estimates of $99.73 million. Dril-Quip had a negative net margin of 22.10% and a positive return on equity of 0.56%. Dril-Quip’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. research analysts anticipate that Dril-Quip will post 0.08 earnings per share for the current year.
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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