Dril-Quip (DRQ) Receives Price Target

Dril-Quip (DRQ) : The consensus price target for Dril-Quip (DRQ) is $61.2 for the short term with a standard deviation of $10.33. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $75, however, the pessimist price target for the company is $45.

Dril-Quip (DRQ) : 1 brokerage houses believe that Dril-Quip (DRQ) is a Strong Buy at current levels. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Dril-Quip (DRQ). Zacks Investment Research suggests a Strong Sell with a rank of 5. 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 2.89.


Also, JP Morgan initiates coverage on Dril-Quip (NYSE:DRQ).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, JP Morgan announces the price target of $53 per share. The rating by the firm was issued on June 22, 2016.

Dril-Quip (NYSE:DRQ): The stock opened at $55.25 on Thursday but the bulls could not build on the opening and the stock topped out at $55.35 for the day. The stock traded down to $54.39 during the day, due to lack of any buying support eventually closed down at $55.35 with a loss of -0.40% for the day. The stock had closed at $55.57 on the previous day. The total traded volume was 454,421 shares.

Dril-Quip, Inc. designs, manufactures, sells and services engineered offshore drilling and production equipment. The Companys equipment is suited for use in deepwater, harsh environments and service applications. The Companys operates in 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. It products include subsea equipment, surface equipment and offshore rig equipment. Its products are used to explore for oil and gas from offshore drilling rigs, such as floating rigs and jack-up rigs, and for drilling and production of oil and gas wells on offshore platforms, TLPs, Spars and moored vessels, such as FPSOs. Its services include technical advisory assistance services, reconditioning of its customer-owned products, and rental of running tools for installation and retrieval of its products.

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