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

Shares of DNOW Inc. (NYSE:DNOW) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $18.25.

DNOW has been the subject of a number of analyst reports. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. DA Davidson boosted their price target on DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 10th. Freedom Capital raised DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a report on Monday, August 24th.

DNOW Stock Up 2.0%

DNOW opened at $16.12 on Monday. DNOW has a 12 month low of $10.94 and a 12 month high of $17.26. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $14.65 and its 200-day moving average price is $13.43. The company has a market cap of $2.91 billion, a P/E ratio of -15.07 and a beta of 0.87.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.DNOW’s quarterly revenue was up 108.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. On average, equities analysts expect that DNOW will post 0.34 EPS for the current year.

Institutional Trading of DNOW

Large investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new position in DNOW in the second quarter worth $26,000. Quarry LP boosted its holdings in shares of DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 1,703 shares in the last quarter. Sunbelt Securities Inc. grew 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 worth $29,000 after buying an additional 2,418 shares during the period. Clearstead Advisors LLC increased its stake 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 worth $32,000 after acquiring an additional 1,383 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,589 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

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.