Dril-Quip, Inc. (NYSE:DRQ) Hits New 52-Week Low at $41.85

Dril-Quip, Inc. (NYSE:DRQ)’s share price hit a new 52-week low on Tuesday . The company traded as low as $41.85 and last traded at $41.75, with a volume of 273,339 shares. The stock had previously closed at $42.50.

A number of equities analysts have recently weighed in on the company. Scotiabank set a $61.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Cowen and Company lowered their target price on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday, July 31st. Piper Jaffray Companies set a $43.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. BidaskClub lowered Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $56.00.

The stock has a 50 day moving average price of $47.94 and a 200 day moving average price of $53.41. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 76.95 and a beta of 0.63.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, analysts forecast that Dril-Quip, Inc. will post $0.10 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Tyers Asset Management LLC boosted its stake in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock worth $106,000 after buying an additional 308 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock worth $109,000 after buying an additional 944 shares during the last quarter. Flinton Capital Management LLC boosted its stake in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock worth $134,000 after buying an additional 392 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock worth $163,000 after buying an additional 476 shares during the last quarter. Finally, LS Investment Advisors LLC boosted 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 buying an additional 450 shares during the last quarter.

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Dril-Quip Company Profile

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.

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