ValuEngine Upgrades Dril-Quip (DRQ) to Sell

Dril-Quip (NYSE:DRQ) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.

A number of other research analysts have also issued reports on the stock. Capital One reiterated an “equal weight” rating on shares of Dril-Quip in a research note on Thursday, February 22nd. B. Riley set a $55.00 price target on shares of Dril-Quip and gave the stock a “buy” rating in a research report on Friday, February 23rd. Piper Jaffray set a $40.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Thursday, March 8th. TheStreet upgraded shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Friday, January 26th. Finally, Barclays set a $49.00 price target on shares of Dril-Quip and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. 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 to the company. Dril-Quip has a consensus rating of “Hold” and a consensus target price of $47.13.

Dril-Quip opened at $48.50 on Wednesday, MarketBeat Ratings reports. Dril-Quip has a 1 year low of $45.75 and a 1 year high of $46.40. The firm has a market capitalization of $1.75 billion, a P/E ratio of 186.54 and a beta of 0.78.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Thursday, April 26th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.14). Dril-Quip had a negative net margin of 24.83% and a negative return on equity of 0.26%. The firm had revenue of $99.20 million during the quarter, compared to analyst estimates of $96.84 million. The company’s revenue was down 16.8% on a year-over-year basis. equities analysts anticipate that Dril-Quip will post -0.24 earnings per share for the current fiscal year.

In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $43.99, for a total value of $87,980.00. Following the sale, the vice president now directly owns 33,994 shares in the company, valued at approximately $1,495,396.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey J. Bird sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $43.99, for a total transaction of $43,990.00. Following the transaction, the chief financial officer now directly owns 21,878 shares of the company’s stock, valued at $962,413.22. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in DRQ. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Dril-Quip by 11.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,742,298 shares of the oil and gas company’s stock worth $167,655,000 after acquiring an additional 393,350 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Dril-Quip by 102.1% during the 1st quarter. Fisher Asset Management LLC now owns 738,782 shares of the oil and gas company’s stock worth $33,097,000 after acquiring an additional 373,301 shares during the period. Schroder Investment Management Group bought a new position in shares of Dril-Quip during the 4th quarter worth about $13,351,000. Neuberger Berman Group LLC bought a new position in shares of Dril-Quip during the 1st quarter worth about $12,167,000. Finally, Boston Partners lifted its holdings in shares of Dril-Quip by 68.3% during the 4th quarter. Boston Partners now owns 617,025 shares of the oil and gas company’s stock worth $29,432,000 after acquiring an additional 250,480 shares during the period.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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