DNOW Inc. (NYSE:DNOW) Receives Average Recommendation of “Hold” from Brokerages

Shares of DNOW Inc. (NYSE:DNOW) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.00.

A number of equities analysts have recently commented on DNOW shares. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. DA Davidson assumed coverage on DNOW in a research report on Monday. They issued a “buy” rating and a $17.00 target price for the company. Finally, Stifel Nicolaus lowered their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd.

DNOW Trading Up 0.9%

DNOW stock traded up $0.13 during midday trading on Tuesday, reaching $13.83. The stock had a trading volume of 123,239 shares, compared to its average volume of 3,161,477. The stock’s 50-day simple moving average is $12.92 and its 200 day simple moving average is $13.38. DNOW has a twelve month low of $10.94 and a twelve month high of $17.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. The stock has a market capitalization of $2.52 billion, a PE ratio of -18.94 and a beta of 0.82.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 97.5% compared to the same quarter last year. Analysts expect that DNOW will post 0.31 EPS for the current year.

Institutional Trading of DNOW

Large investors have recently modified their holdings of the business. Blue Trust Inc. acquired a new position in shares of DNOW in the fourth quarter worth about $25,000. Quarry LP increased its holdings in DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,703 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of DNOW by 8,060.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 2,418 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of DNOW by 132.5% in the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of DNOW by 190.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,589 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.