ValuEngine Lowers Dril-Quip (DRQ) to Sell

Dril-Quip (NYSE:DRQ) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other equities analysts also recently issued reports on the company. Cowen set a $40.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research report on Friday, April 13th. B. Riley reiterated a “buy” rating and set a $55.00 price objective on shares of Dril-Quip in a research report on Monday, March 26th. Piper Jaffray set a $40.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research report on Thursday, March 8th. Barclays set a $49.00 price objective on Dril-Quip and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Finally, Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.75.

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Shares of NYSE DRQ traded up $1.70 during midday trading on Wednesday, hitting $46.40. 605,861 shares of the company’s stock were exchanged, compared to its average volume of 491,458. The company has a market cap of $1,744.73, a PE ratio of 178.46 and a beta of 0.76. Dril-Quip has a twelve month low of $35.85 and a twelve month high of $56.55.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 positive return on equity of 0.56% and a negative net margin of 22.10%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. equities research analysts forecast that Dril-Quip will post 0.08 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elkfork Partners LLC acquired a new stake in Dril-Quip in the fourth quarter worth approximately $196,000. MetLife Investment Advisors LLC acquired a new stake in Dril-Quip in the fourth quarter worth approximately $2,007,000. Gotham Asset Management LLC acquired a new stake in Dril-Quip in the fourth quarter worth approximately $9,070,000. Jump Trading LLC bought a new position in shares of Dril-Quip in the fourth quarter valued at $446,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Dril-Quip by 8.4% in the fourth quarter. Macquarie Group Ltd. now owns 724,546 shares of the oil and gas company’s stock valued at $34,561,000 after buying an additional 56,155 shares in the last quarter.

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About Dril-Quip

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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