McDermott International (NYSE:MDR) : 2 brokerage houses believe that McDermott International (NYSE:MDR) is a Strong Buy at current levels. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on McDermott International (NYSE:MDR). Zacks Investment Research suggests a Strong Buy with a rank of 1. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 9 Wall Street Analysts endorse the stock as a Hold with a rating of 2.63.
McDermott International (NYSE:MDR) : 6 investment research analysts covering McDermott International (NYSE:MDR) have an average price target of $5.08 for the near short term. The highest target price given by the Brokerage Firm to the stock is $7 and the lowest target is $4 for the short term. Analysts expect the variance to be within $1.28 of the average price.
Company shares have received an average consensus rating of Hold for the current week Also, Sterne Agee initiates coverage on McDermott International (NYSE:MDR). The shares have now been rated Neutral by the stock experts at the ratings house. The rating by the firm was issued on May 24, 2016.
McDermott International (NYSE:MDR): stock turned positive on Tuesday. Though the stock opened at $4.67, the bulls momentum made the stock top out at $4.74 level for the day. The stock recorded a low of $4.53 and closed the trading day at $4.73, in the green by 7.26%. The total traded volume for the day was 2,269,324. The stock had closed at $4.41 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Mcdermott International Inc, Trice David A, had purchased 20,000 shares in a transaction dated on November 14, 2014. The transaction was executed at $4.16 per share with total amount equaling $83,200.
McDermott International, Inc. is an engineering, procurement, construction and installation (EPCI) company focused on designing and executing offshore oil and gas projects across the world. The Companys operating segments include Asia Pacific, Americas, Middle East and North Sea and Africa. The Asia Pacific segment serves customers in Australia, Indonesia, Vietnam, Malaysia, Thailand and India. The Americas segment serves customers in the United States, Brazil, Mexico, Trinidad and Africa. The Middle East segment includes its North Sea and Africa operations, which serves customers in Saudi Arabia, Qatar, the United Arab Emirates (U.A.E.), Kuwait, India, Azerbaijan, Russia, the North Sea and Africa. It delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning. Its customers include national, integrated and other oil and gas companies, and it operates in offshore oil and gas producing regions throughout the world.