TheStreet reissued their hold rating on shares of Transocean (NYSE:RIG) in a research report sent to investors on Friday morning, Analyst Ratings Network reports.
“Transocean (RIG) has been reiterated by TheStreet Ratings as a hold with a ratings score of C. The company’s strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that we feel that the company’s cash flow from its operations has been weak overall.,” the firm’s analyst wrote.
TheStreet has also modified their ratings on a number of other basic materials stocks in the few days. The firm upgraded shares of Radnet Incorporated from a sell rating to a hold rating. Also, TheStreet upgraded shares of Innovative Solutions And Support from a hold rating to a buy rating. Finally, TheStreet downgraded shares of Stanley Furniture Co. from a hold rating to a sell rating.
Transocean (NYSE: RIG) traded up 0.32% on Friday, hitting $49.76. Transocean has a 1-year low of $43.65 and a 1-year high of $59.50. The stock’s 50-day moving average is currently $49.05. The company has a market cap of $17.931 billion and a price-to-earnings ratio of 200.00.
A number of other firms have also recently commented on RIG. Analysts at Cowen and Company cut their price target on shares of Transocean from $63.00 to $61.00 in a research note to investors on Wednesday, July 17th. They now have an outperform rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Transocean in a research note to investors on Monday, July 15th. They set an equal weight rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Transocean from an outperform rating to a market perform rating in a research note to investors on Thursday, July 11th.
One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $60.00.
Transocean Ltd. (NYSE: RIG) is an international provider of offshore contract drilling services for oil and gas wells.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.