BidaskClub Downgrades NOW Inc. (DNOW) to Hold
BidaskClub lowered shares of NOW Inc. (NYSE:DNOW) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
Several other equities research analysts have also recently weighed in on DNOW. Stifel Nicolaus reiterated a buy rating on shares of NOW in a report on Friday, July 14th. Zacks Investment Research cut NOW from a hold rating to a sell rating in a report on Monday, July 17th. KeyCorp reiterated an overweight rating and issued a $22.00 price objective on shares of NOW in a report on Friday, May 26th. Credit Suisse Group dropped their price objective on NOW from $20.00 to $19.00 and set a neutral rating for the company in a report on Friday, May 5th. Finally, Seaport Global Securities upgraded NOW from a neutral rating to a buy rating and increased their price objective for the stock from $20.00 to $22.00 in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $20.00.
Shares of NOW (NYSE DNOW) traded down 0.31% during midday trading on Tuesday, reaching $16.05. The company’s stock had a trading volume of 897,601 shares. The company’s market capitalization is $1.73 billion. The company’s 50-day moving average price is $16.20 and its 200 day moving average price is $17.94. NOW has a 12-month low of $14.96 and a 12-month high of $23.53.
NOW (NYSE:DNOW) last issued its earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.08. The company had revenue of $631 million during the quarter, compared to analysts’ expectations of $605.07 million. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. NOW’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) EPS. On average, equities research analysts forecast that NOW will post ($0.25) earnings per share for the current year.
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In other news, Director James Crandell bought 5,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was bought at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the purchase, the director now directly owns 22,562 shares in the company, valued at approximately $395,511.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in NOW by 13.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,899 shares of the oil and gas company’s stock worth $121,000 after buying an additional 711 shares during the last quarter. Bank of Montreal Can boosted its position in 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 worth $112,000 after buying an additional 3,940 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in NOW during the first quarter worth approximately $127,000. LS Investment Advisors LLC boosted its position in 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 worth $143,000 after buying an additional 1,420 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in NOW by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,717 shares of the oil and gas company’s stock worth $216,000 after buying an additional 1,219 shares during the last quarter. Institutional investors own 98.90% of the company’s stock.
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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