Now Inc. (DNOW) Coverage Initiated at Cowen and Company
Cowen and Company initiated coverage on shares of Now Inc. (NYSE:DNOW) in a research note issued on Friday. The firm set a “market perform” rating and a $22.00 price target on the stock. Cowen and Company’s price target would indicate a potential upside of 15.55% from the company’s current price.
Separately, Zacks Investment Research upgraded shares of Now from a “sell” rating to a “hold” rating in a research note on Friday, May 20th. Four investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $18.00.
Now (NYSE:DNOW) opened at 19.04 on Friday. The company’s 50-day moving average price is $20.45 and its 200 day moving average price is $18.64. Now has a 52 week low of $12.03 and a 52 week high of $21.73. The company’s market capitalization is $2.05 billion.
Now (NYSE:DNOW) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.40) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.06. The firm earned $501 million during the quarter, compared to analyst estimates of $456.96 million. Now had a negative net margin of 23.71% and a negative return on equity of 8.92%. The company’s revenue for the quarter was down 33.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS. On average, analysts predict that Now will post ($1.53) EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Now by 20.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,985 shares of the company’s stock valued at $106,000 after buying an additional 1,026 shares during the period. Advisor Group Inc. purchased a new stake in shares of Now during the second quarter valued at about $138,000. LS Investment Advisors LLC increased its stake in shares of Now by 101.8% in the second quarter. LS Investment Advisors LLC now owns 7,661 shares of the company’s stock valued at $139,000 after buying an additional 3,864 shares during the period. SeaBridge Investment Advisors LLC increased its stake in shares of Now by 4.2% in the second quarter. SeaBridge Investment Advisors LLC now owns 8,462 shares of the company’s stock valued at $154,000 after buying an additional 339 shares during the period. Finally, M&R Capital Management Inc. purchased a new stake in shares of Now during the second quarter valued at about $169,000. Institutional investors own 96.87% of the company’s stock.
Now Company Profile
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
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