Brokerages Set Dril-Quip, Inc. (NYSE:DRQ) Price Target at $39.10

Shares of Dril-Quip, Inc. (NYSE:DRQ) have been given an average rating of “Hold” by the thirteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $39.10.

DRQ has been the subject of a number of research reports. Barclays reissued a “hold” rating and issued a $30.00 price target on shares of Dril-Quip in a research note on Friday, March 20th. Cowen decreased their target price on Dril-Quip from $32.00 to $29.00 and set a “market perform” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. upgraded Dril-Quip from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $48.00 to $39.00 in a research report on Tuesday, March 10th. B. Riley reduced their price target on Dril-Quip from $45.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Finally, TheStreet lowered Dril-Quip from a “c-” rating to a “d+” rating in a research report on Thursday, March 5th.

A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in Dril-Quip during the 4th quarter valued at about $39,000. Meeder Asset Management Inc. purchased a new stake in shares of Dril-Quip during the first quarter valued at approximately $35,000. Advisor Group Holdings Inc. bought a new stake in shares of Dril-Quip during the first quarter valued at approximately $41,000. Parkside Financial Bank & Trust raised its holdings in Dril-Quip by 4,210.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,974 shares of the oil and gas company’s stock worth $90,000 after acquiring an additional 2,905 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dril-Quip by 53.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,284 shares of the oil and gas company’s stock worth $100,000 after acquiring an additional 1,149 shares during the last quarter.

Shares of Dril-Quip stock traded down $0.95 during midday trading on Friday, reaching $29.05. 416,879 shares of the company’s stock traded hands, compared to its average volume of 330,413. The stock has a 50 day moving average of $29.95 and a 200-day moving average of $36.63. Dril-Quip has a 12 month low of $23.91 and a 12 month high of $56.71. The company has a market cap of $1.05 billion, a PE ratio of 176.47 and a beta of 1.34.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.56). Dril-Quip had a negative net margin of 2.86% and a positive return on equity of 0.61%. The company had revenue of $96.00 million for the quarter, compared to analysts’ expectations of $99.83 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts anticipate that Dril-Quip will post -0.17 EPS for the current year.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

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Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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