NCS Multistage (NASDAQ:NCSM) Stock Rating Upgraded by Zacks Research

NCS Multistage (NASDAQ:NCSM) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on NCSM. Wall Street Zen cut shares of NCS Multistage from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

NCS Multistage Price Performance

Shares of NCSM stock opened at $44.59 on Wednesday. NCS Multistage has a twelve month low of $29.26 and a twelve month high of $87.36. The stock has a market capitalization of $117.05 million, a price-to-earnings ratio of 6.45 and a beta of 0.16. The stock has a fifty day simple moving average of $50.78 and a two-hundred day simple moving average of $49.77. The company has a current ratio of 5.35, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $1.33 by ($1.47). The firm had revenue of $45.64 million for the quarter, compared to analysts’ expectations of $51.22 million. NCS Multistage had a net margin of 10.78% and a return on equity of 6.58%. On average, analysts predict that NCS Multistage will post 2.53 EPS for the current fiscal year.

Hedge Funds Weigh In On NCS Multistage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCSM. Tucker Asset Management LLC acquired a new stake in NCS Multistage during the 4th quarter worth about $34,000. PNC Financial Services Group Inc. lifted its holdings in shares of NCS Multistage by 342.6% during the third quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after purchasing an additional 668 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of NCS Multistage during the first quarter worth about $223,000. Bank of America Corp DE boosted its position in NCS Multistage by 397,500.0% in the first quarter. Bank of America Corp DE now owns 3,976 shares of the company’s stock valued at $246,000 after buying an additional 3,975 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new stake in NCS Multistage in the third quarter valued at approximately $222,000. Hedge funds and other institutional investors own 70.91% of the company’s stock.

About NCS Multistage

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.