DNOW (NYSE:DNOW) Upgraded by Freedom Capital to Strong-Buy Rating

Freedom Capital upgraded shares of DNOW (NYSE:DNOW) to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. DA Davidson started coverage on shares of DNOW in a research report on Tuesday, June 16th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Stifel Nicolaus reduced their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DNOW presently has an average rating of “Moderate Buy” and an average price target of $17.00.

DNOW Stock Down 2.3%

Shares of NYSE:DNOW opened at $13.40 on Monday. DNOW has a 52-week low of $10.94 and a 52-week high of $17.26. The stock has a market cap of $2.45 billion, a P/E ratio of -18.36 and a beta of 0.82. The business’s 50 day moving average is $13.07 and its 200 day moving average is $13.36. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was up 97.5% on a year-over-year basis. Sell-side analysts predict that DNOW will post 0.31 EPS for the current year.

Institutional Investors Weigh In On DNOW

A number of institutional investors have recently added to or reduced their stakes in DNOW. Blue Trust Inc. bought a new position in DNOW in the fourth quarter worth about $25,000. Quarry LP boosted its holdings in shares of DNOW by 712.6% in 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. boosted its holdings 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 buying an additional 2,418 shares in the last quarter. Clearstead Advisors LLC grew 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 worth $32,000 after buying an additional 1,383 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 buying an additional 1,589 shares during 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.