Dril-Quip, Inc. (NYSE:DRQ) Given a $43.00 Price Target at Piper Jaffray Companies
Piper Jaffray Companies set a $43.00 price target on Dril-Quip, Inc. (NYSE:DRQ) in a report published on Saturday morning. The brokerage currently has a hold rating on the oil and gas company’s stock.
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Dril-Quip from a hold rating to a sell rating in a report on Thursday, July 27th. Zacks Investment Research raised shares of Dril-Quip from a sell rating to a hold rating in a report on Tuesday, May 2nd. Finally, Barclays PLC cut shares of Dril-Quip from an overweight rating to an equal weight rating and lowered their target price for the company from $77.00 to $57.00 in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $56.00.
Dril-Quip (DRQ) opened at 43.95 on Friday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 81.39 and a beta of 0.65. The stock’s 50 day moving average price is $49.45 and its 200-day moving average price is $54.17. Dril-Quip has a one year low of $42.60 and a one year high of $69.40.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. Dril-Quip had a return on equity of 2.13% and a net margin of 4.28%. The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. Dril-Quip’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Dril-Quip will post $0.19 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in 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 position in 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 position in 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 position in 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 position in 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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