FBR & Co Reiterates Buy Rating for Dril-Quip, Inc. (NYSE:DRQ)

FBR & Co reiterated their buy rating on shares of Dril-Quip, Inc. (NYSE:DRQ) in a research report released on Friday, October 27th.

DRQ has been the topic of a number of other research reports. BidaskClub cut Dril-Quip from a sell rating to a strong sell rating in a research note on Thursday, August 10th. Piper Jaffray Companies set a $43.00 price objective on Dril-Quip and gave the stock a hold rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 target price on Dril-Quip and gave the stock a hold rating in a research report on Monday, July 31st. Cowen and Company dropped their target price on Dril-Quip from $55.00 to $43.00 and set a market perform rating on the stock in a research report on Monday, July 31st. Finally, Gabelli started coverage on Dril-Quip in a research report on Friday, October 20th. They set a hold rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $49.88.

Shares of Dril-Quip (NYSE DRQ) traded down $0.45 on Friday, hitting $45.80. The company’s stock had a trading volume of 517,100 shares, compared to its average volume of 572,473. The firm has a market capitalization of $1,730.00, a PE ratio of 110.12 and a beta of 0.68. Dril-Quip has a 12 month low of $35.85 and a 12 month high of $69.40.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million for the quarter, compared to analysts’ expectations of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The firm’s quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. equities research analysts expect that Dril-Quip will post 0.18 EPS for the current fiscal year.

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In related news, CFO Jeffrey J. Bird sold 1,931 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $80,117.19. Following the completion of the sale, the chief financial officer now directly owns 24,719 shares of the company’s stock, valued at $1,025,591.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director A P. Shukis sold 613 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $42.80, for a total value of $26,236.40. Following the completion of the sale, the director now directly owns 12,282 shares of the company’s stock, valued at $525,669.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,662 shares of company stock valued at $1,567,399. 0.87% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its holdings in Dril-Quip by 66.4% in the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,063 shares during the last quarter. QS Investors LLC increased its stake in shares of Dril-Quip by 0.5% in the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 13 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Dril-Quip by 17.6% in the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 450 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Dril-Quip in the third quarter worth $136,000. Finally, Flinton Capital Management LLC boosted its holdings in Dril-Quip by 64.8% in the second quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 1,596 shares in the last quarter.

About Dril-Quip

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.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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