McDermott International Inc (NYSE:MDR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $9.60, but opened at $9.35. McDermott International shares last traded at $9.32, with a volume of 56118 shares changing hands.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded McDermott International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Citigroup lowered their price objective on McDermott International from $21.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, November 1st. Finally, TheStreet downgraded McDermott International from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $25.32.
The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $1.70 billion, a PE ratio of 4.94 and a beta of 2.73.
In other news, SVP Tareq Kawash bought 26,000 shares of McDermott International stock in a transaction dated Friday, November 23rd. The shares were purchased at an average cost of $7.90 per share, with a total value of $205,400.00. Following the completion of the acquisition, the senior vice president now owns 28,481 shares of the company’s stock, valued at approximately $224,999.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Linh Austin bought 10,000 shares of McDermott International stock in a transaction dated Friday, November 9th. The stock was purchased at an average cost of $8.92 per share, for a total transaction of $89,200.00. The disclosure for this purchase can be found here. Insiders bought 46,000 shares of company stock worth $374,900 over the last ninety days. Insiders own 0.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. bought a new stake in McDermott International during the third quarter worth approximately $147,000. Jefferies Group LLC bought a new stake in McDermott International during the third quarter worth approximately $185,000. BB&T Securities LLC bought a new stake in McDermott International during the fourth quarter worth approximately $66,000. Private Advisor Group LLC bought a new stake in McDermott International during the third quarter worth approximately $190,000. Finally, SNS Financial Group LLC bought a new stake in McDermott International during the third quarter worth approximately $193,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.
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McDermott International Company Profile (NYSE:MDR)
McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. The company delivers fixed and floating production facilities, pipeline installations, and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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