DNOW (NYSE:DNOW) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of DNOW (NYSE:DNOW) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other research firms also recently weighed in on DNOW. Stifel Nicolaus decreased their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target on the stock in a research note on Friday, November 21st. Finally, KeyCorp set a $19.00 price target on DNOW in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, DNOW currently has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Price Performance

DNOW stock opened at $11.64 on Friday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -40.12 and a beta of 0.79. DNOW has a 52-week low of $11.34 and a 52-week high of $17.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34. The stock’s 50 day moving average price is $14.15 and its two-hundred day moving average price is $14.38.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $969.50 million. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. DNOW’s revenue for the quarter was up 68.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities analysts predict that DNOW will post 0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of DNOW by 28.2% during the first quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after acquiring an additional 7,867 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in DNOW by 53.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock valued at $6,127,000 after purchasing an additional 124,797 shares during the last quarter. Prospera Financial Services Inc boosted its stake in DNOW by 33.9% during the 2nd quarter. Prospera Financial Services Inc now owns 23,780 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 6,015 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in DNOW during the 2nd quarter worth approximately $162,000. Finally, CSM Advisors LLC purchased a new stake in shares of DNOW in the second quarter worth approximately $4,771,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About DNOW

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.