Stephens Lowers NOW (NYSE:DNOW) Price Target to $12.00

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NOW (NYSE:DNOW) had its price target decreased by Stephens from $14.00 to $12.00 in a research report report published on Thursday morning, AnalystRatings.com reports. Stephens currently has an overweight rating on the oil and gas company’s stock.

Several other brokerages also recently issued reports on DNOW. Cowen lowered their price target on NOW from $12.00 to $8.25 and set a market perform rating on the stock in a research report on Thursday. Zacks Investment Research raised NOW from a sell rating to a hold rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. NOW presently has an average rating of Hold and a consensus price target of $12.65.

NYSE DNOW opened at $9.53 on Thursday. NOW has a fifty-two week low of $8.58 and a fifty-two week high of $15.75. The stock’s 50-day moving average is $10.60 and its two-hundred day moving average is $11.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.69 and a quick ratio of 1.52. The firm has a market cap of $1.04 billion, a P/E ratio of -10.59 and a beta of 1.46.

NOW (NYSE:DNOW) last posted its earnings results on Wednesday, February 19th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $675.35 million. NOW had a negative net margin of 3.29% and a positive return on equity of 2.11%. NOW’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. On average, equities analysts expect that NOW will post 0.2 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in NOW by 672.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,981 shares of the oil and gas company’s stock worth $56,000 after buying an additional 4,336 shares in the last quarter. Royce & Associates LP bought a new position in NOW during the fourth quarter worth about $60,000. Baxter Bros Inc. bought a new position in NOW during the fourth quarter worth about $225,000. Aigen Investment Management LP bought a new position in NOW during the fourth quarter worth about $106,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in NOW by 70.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,859 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 4,081 shares during the period.

NOW Company Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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