NOW Inc. (NYSE:DNOW)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, October 17th. They presently have a $18.00 price objective on the oil and gas company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 60.64% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird downgraded shares of NOW from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $15.00 in a research note on Friday, October 13th. Zacks Investment Research upgraded shares of NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub downgraded shares of NOW from a “buy” rating to a “hold” rating in a research note on Saturday, October 7th. Cowen and Company set a $14.00 price target on shares of NOW and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, J P Morgan Chase & Co decreased their price target on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. NOW presently has a consensus rating of “Hold” and an average price target of $16.20.
NOW (NYSE DNOW) traded up $0.65 during trading hours on Tuesday, hitting $11.40. 640,066 shares of the stock were exchanged, compared to its average volume of 1,606,359. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.39.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. The business had revenue of $697.00 million for the quarter, compared to the consensus estimate of $701.29 million. During the same quarter last year, the company posted ($0.34) earnings per share. NOW’s quarterly revenue was up 34.0% on a year-over-year basis. analysts forecast that NOW will post -0.31 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. bought a new position in shares of NOW in the third quarter valued at about $137,000. Bank of Montreal Can raised its holdings in shares of NOW by 130.2% in the second quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 3,940 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of NOW in the first quarter valued at about $127,000. Riverhead Capital Management LLC raised its holdings in shares of NOW by 70.0% in the second quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 3,290 shares during the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of NOW by 18.9% in the second quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 1,420 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.
NOW Company Profile
NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
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