The stock of Dril-Quip, Inc. (NYSE:DRQ) hit a new 52-week low and has $45.60 target or 5.00% below today’s $48.00 share price. The 5 months bearish chart indicates high risk for the $1.80 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $45.60 price target is reached, the company will be worth $90.00M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 364,149 shares traded hands. Dril-Quip, Inc. (NYSE:DRQ) has declined 21.57% since March 31, 2016 and is downtrending. It has underperformed by 24.09% the S&P500.
Analysts await Dril-Quip, Inc. (NYSE:DRQ) to report earnings on November, 3. They expect $0.39 earnings per share, down 67.23% or $0.80 from last year’s $1.19 per share. DRQ’s profit will be $14.63M for 30.77 P/E if the $0.39 EPS becomes a reality. After $0.64 actual earnings per share reported by Dril-Quip, Inc. for the previous quarter, Wall Street now forecasts -39.06% negative EPS growth.
Dril-Quip, Inc. (NYSE:DRQ) Ratings Coverage
Out of 12 analysts covering Dril Quip (NYSE:DRQ), 2 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 17% are positive. Dril Quip has been the topic of 26 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Howard Weil maintained the stock with “Sector Perform” rating in Thursday, October 27 report. The firm has “Equal-Weight” rating given on Tuesday, April 19 by Morgan Stanley. On Wednesday, June 22 the stock rating was initiated by JP Morgan with “Neutral”. The stock of Dril-Quip, Inc. (NYSE:DRQ) has “Mkt Perform” rating given on Monday, November 2 by FBR Capital. The firm has “Buy” rating given on Monday, November 30 by Guggenheim. The stock of Dril-Quip, Inc. (NYSE:DRQ) has “Accumulate” rating given on Monday, December 14 by KLR Group. As per Friday, February 26, the company rating was maintained by Cowen & Co. As per Thursday, April 28, the company rating was downgraded by Piper Jaffray. Barclays Capital upgraded Dril-Quip, Inc. (NYSE:DRQ) rating on Wednesday, April 20. Barclays Capital has “Equal-Weight” rating and $66 price target. The stock of Dril-Quip, Inc. (NYSE:DRQ) earned “Neutral” rating by Suntrust Robinson on Wednesday, February 24.
According to Zacks Investment Research, “Dril-Quip, Inc. is a manufacturers of highly engineered offshore drilling and production equipment which is well suited for use in deepwater, harsh environment and severe service applications. They design and manufacture subsea equipment, surface equipment and offshore rig equipment for use by major integrated, large independent and foreign national oil and gas companies in offshore areas throughout the world. Their principal products consist of subsea and surface wellheads and production trees, mudline hanger systems, specialty connectors and associated pipe.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.27, from 1.42 in 2016Q1. The ratio fall, as 29 funds sold all Dril-Quip, Inc. shares owned while 82 reduced positions. 30 funds bought stakes while 98 increased positions. They now own 39.08 million shares or 1.13% less from 39.52 million shares in 2016Q1.
The New York-based Springbank Value Lp has invested 2.45% in Dril-Quip, Inc. (NYSE:DRQ). Blackrock Fund Advsrs has 1.43 million shares for 0.02% of their US portfolio. Rhumbline Advisers has 0.01% invested in the company for 62,464 shares. Princeton Alpha Mgmt Limited Partnership owns 11,789 shares or 0.12% of their US portfolio. American Century holds 0.02% of its portfolio in Dril-Quip, Inc. (NYSE:DRQ) for 336,644 shares. Diam Company Limited holds 26,214 shares or 0.02% of its portfolio. Airain Limited has 0.06% invested in the company for 18,170 shares. Fisher Asset Mgmt Limited Liability Com, a Washington-based fund reported 377,326 shares. Royal Natl Bank Of Canada reported 18,754 shares or 0% of all its holdings. Timber Hill Limited Liability Co holds 0% or 10,600 shares in its portfolio. D E Shaw accumulated 0% or 31,254 shares. Vollero Beach Prns Lc has 0.21% invested in the company for 15,659 shares. Rs Investment Mngmt Limited Liability Com accumulated 0.13% or 214,920 shares. Ahl Prtn Llp holds 0.04% of its portfolio in Dril-Quip, Inc. (NYSE:DRQ) for 12,217 shares. Assetmark last reported 0% of its portfolio in the stock.
More notable recent Dril-Quip, Inc. (NYSE:DRQ) news were published by: Prnewswire.com which released: “Dril-Quip, Inc. Announces Results For Third Quarter 2016” on October 27, 2016, also Prnewswire.com with their article: “Dril-Quip Agrees To Acquire TIW Corporation” published on October 17, 2016, Prnewswire.com published: “Dril-Quip, Inc. To Present At J.P. Morgan Inaugural Energy Equity Conference” on June 24, 2016. More interesting news about Dril-Quip, Inc. (NYSE:DRQ) were released by: Prnewswire.com and their article: “Dril-Quip, Inc. Announces Results For First Quarter 2016” published on April 26, 2016 as well as Prnewswire.com‘s news article titled: “Dril-Quip Announces Results For 2nd Quarter 2016 And Stock Repurchase Program” with publication date: July 29, 2016.
DRQ Company Profile
Dril-Quip, Inc. (Dril-Quip), incorporated on August 12, 1997, designs, makes, sells and services engineered offshore drilling and production equipment. The Company’s equipment is suited for use in deepwater, a range of environments and a range of service applications. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters. The Company’s activities are organized into three geographic divisions-Western Hemisphere, including North and South America; Eastern Hemisphere, including Europe and Africa, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East. The Firm has manufacturing facilities in approximately three of its headquarter locations, as well as in Macae, Brazil. The Firm also has additional facilities for fabrication, reconditioning and rework in Australia, Norway, Denmark, Nigeria, China, Egypt, Ghana and Qatar.
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