Drilling Tools International (NASDAQ:DTI) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Drilling Tools International from a "hold" to a "buy" rating, while other analysts remain mixed (Weiss: sell, Zacks: strong-buy), leaving the consensus at a "Moderate Buy".
• The company reported quarterly revenue of $38.51 million (above the $37.02M estimate) and EPS of $0.04, although it still shows a negative net margin (-2.36%); analysts forecast ~0.38 EPS for the fiscal year.
• Insider Michael Wayne Jr. Domino sold 24,996 shares and insiders collectively own 56.50% of the stock, while institutional ownership is low (~2.79%); the stock trades around $3.52 with a market cap of ~$123.9M and a 52‑week range of $1.43–$4.38.

Drilling Tools International (NASDAQ:DTI - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Drilling Tools International in a report on Wednesday, January 21st. Zacks Research upgraded Drilling Tools International from a "hold" rating to a "strong-buy" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Drilling Tools International Stock Performance

NASDAQ:DTI opened at $3.52 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.11 and a debt-to-equity ratio of 0.32. Drilling Tools International has a fifty-two week low of $1.43 and a fifty-two week high of $4.38. The stock has a market cap of $123.87 million, a PE ratio of -29.33, a price-to-earnings-growth ratio of 1.99 and a beta of -0.34. The firm's fifty day simple moving average is $3.59 and its 200-day simple moving average is $2.77.

Drilling Tools International (NASDAQ:DTI - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $38.51 million during the quarter, compared to the consensus estimate of $37.02 million. Drilling Tools International had a negative net margin of 2.36% and a positive return on equity of 1.88%. Analysts expect that Drilling Tools International will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Drilling Tools International news, insider Michael Wayne Jr. Domino sold 24,996 shares of the firm's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $4.00, for a total transaction of $99,984.00. Following the completion of the transaction, the insider directly owned 1,433,054 shares in the company, valued at approximately $5,732,216. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 35,411 shares of company stock valued at $137,249. 56.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Drilling Tools International

Institutional investors and hedge funds have recently modified their holdings of the business. Gendell Jeffrey L increased its stake in shares of Drilling Tools International by 29.2% during the 4th quarter. Gendell Jeffrey L now owns 2,439,737 shares of the company's stock worth $5,977,000 after purchasing an additional 552,046 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of Drilling Tools International by 184.5% during the 3rd quarter. Cresset Asset Management LLC now owns 200,521 shares of the company's stock worth $461,000 after purchasing an additional 130,032 shares during the last quarter. Bailard Inc. purchased a new stake in Drilling Tools International in the 4th quarter valued at approximately $190,000. Global Retirement Partners LLC acquired a new stake in Drilling Tools International during the 2nd quarter valued at $221,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Drilling Tools International during the 4th quarter valued at $178,000. Hedge funds and other institutional investors own 2.79% of the company's stock.

Drilling Tools International Company Profile

Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.

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