What is Wall Street’s target price for Dril-Quip, Inc. (DRQ) stock on Tuesday?
Wall Street is neutral on Dril-Quip, Inc. (DRQ). On average, analysts give Dril-Quip, Inc. a Hold rating. The average price target is $27.5, which means analysts expect the stock to lose -10.34% over the next twelve months. This average ranking earns Dril-Quip, Inc. an analyst rating of 4, which is better than 4% of the stock based on data compiled by InvestorsObserver.
Why are analyst ratings important?
Analysts know better than anyone the inner workings of the companies they follow, with the exception of the management of the companies. You can tell a lot about a company by studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in any part of the world can disrupt supply chains or disrupt shopping habits. This allows traders to make decisions before a quarterly report that could be worse than expected.
InvestorsObserver aggregates the ratings of all analysts covering a given security, takes the average of these ratings, and then ranks the averages into percentiles. This provides a much better level of granularity than the three levels provided by traditional buy/hold/sell notations.
What’s going on with Dril-Quip, Inc. stock today?
Dril-Quip, Inc. (DRQ) stock is unchanged at 0% while the S&P 500 fell -2.14% at 2:01 p.m. Tuesday, April 26. DRQ is unchanged $0.00 from the previous closing price of $30.67 on volume of 92,045 shares. Over the past year, the S&P 500 is up 0.39% while the DRQ is up 6.53%. DRQ has lost -$3.62 per share over the past 12 months. Click here for the full Dril-Quip, Inc. stock report.
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