Barclays lifted their price objective on shares of Dril-Quip (NYSE:DRQ) from $109.00 to $127.00 in a research note issued on Monday, StockRatingsNetwork.com reports. The firm currently has an “overweight” rating on the stock. Barclays’ target price suggests a potential upside of 14.60% from the company’s current price.
In other Dril-Quip news, CEO Blake T. Deberry unloaded 1,702 shares of the company’s stock on the open market in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $116.37, for a total value of $198,061.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
DRQ has been the subject of a number of other recent research reports. Analysts at Robert W. Baird reiterated a “hold” rating on shares of Dril-Quip in a research note to investors on Monday. They now have a $129.00 price target on the stock. Separately, analysts at Howard Weil raised their price target on shares of Dril-Quip from $130.00 to $135.00 in a research note to investors on Monday. They now have a “sector outperform” rating on the stock. Finally, analysts at Global Hunter Securities upgraded shares of Dril-Quip from an “accumulate” rating to a “buy” rating in a research note to investors on Monday. They now have a $132.00 price target on the stock, up previously from $128.00. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $118.64.
Dril-Quip (NYSE:DRQ) traded up 5.35% on Monday, hitting $116.75. 330,845 shares of the company’s stock traded hands. Dril-Quip has a 52-week low of $65.16 and a 52-week high of $121.07. The stock’s 50-day moving average is $115.7 and its 200-day moving average is $99.46. The company has a market cap of $4.750 billion and a price-to-earnings ratio of 29.39.
Dril-Quip (NYSE:DRQ) last released its earnings data on Friday, November 1st. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.05 by $0.07. The company had revenue of $224.70 million for the quarter, compared to the consensus estimate of $226.70 million. During the same quarter last year, the company posted $0.73 earnings per share. Dril-Quip’s revenue was up 18.3% compared to the same quarter last year. On average, analysts predict that Dril-Quip will post $4.08 earnings per share for the current fiscal year.
Dril-Quip, Inc (NYSE:DRQ), designs, manufactures, sells and services offshore drilling and production equipment for use in deepwater, harsh environment and severe service applications.
This article (Dril-Quip Given New $127.00 Price Target at Barclays (DRQ)) was originally developed by and is property of American Banking News.
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