NOW Inc. (NYSE:DNOW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “
A number of other equities analysts have also recently commented on DNOW. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of NOW in a research note on Thursday, September 7th. Seaport Global Securities cut shares of NOW from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $17.00 in a research note on Wednesday, June 21st. Credit Suisse Group set a $15.00 price target on shares of NOW and gave the stock a “hold” rating in a research note on Friday, August 4th. J P Morgan Chase & Co cut their price target on shares of NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, September 12th. Finally, BidaskClub raised shares of NOW from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. NOW currently has an average rating of “Hold” and a consensus target price of $18.33.
Shares of NOW (NYSE DNOW) opened at 13.19 on Wednesday. NOW has a one year low of $11.31 and a one year high of $23.53. The stock’s 50 day moving average is $12.77 and its 200-day moving average is $15.26. The company’s market cap is $1.42 billion.
NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. NOW’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) earnings per share. Equities research analysts forecast that NOW will post ($0.26) earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of NOW by 0.7% in the 2nd quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 105 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of NOW by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock worth $270,000 after acquiring an additional 115 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of NOW by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock worth $604,000 after acquiring an additional 208 shares during the last quarter. Advantus Capital Management Inc lifted its holdings in shares of NOW by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 403 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of NOW by 1.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 29,396 shares of the oil and gas company’s stock worth $473,000 after acquiring an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.
NOW Company Profile
NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
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