DNOW Inc. (NYSE:DNOW) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of DNOW Inc. (NYSE:DNOW) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $18.20.

A number of equities analysts have recently commented on DNOW shares. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna raised their price objective on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. DA Davidson raised their price objective on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Freedom Broker lowered shares of DNOW from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Thursday, September 10th.

DNOW Trading Down 1.5%

NYSE:DNOW opened at $15.27 on Friday. The company has a market capitalization of $2.76 billion, a PE ratio of -14.27 and a beta of 0.89. DNOW has a 52-week low of $10.94 and a 52-week high of $17.26. The stock’s 50 day moving average price is $15.59 and its 200 day moving average price is $13.83. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The firm’s revenue for the quarter was up 108.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, research analysts anticipate that DNOW will post 0.34 EPS for the current year.

Hedge Funds Weigh In On DNOW

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Beacon Pointe Advisors LLC purchased a new position in DNOW during the 2nd quarter worth $462,000. Bank of America Corp DE acquired a new stake in shares of DNOW in the 2nd quarter worth $25,358,000. Jefferies Financial Group Inc. purchased a new stake in shares of DNOW in the second quarter valued at about $2,270,000. GSA Capital Partners LLP purchased a new stake in shares of DNOW in the second quarter valued at about $2,102,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of DNOW during the second quarter worth about $42,540,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Company Profile

DNOW Inc (NYSE: DNOW) is a distributor and supply chain solutions provider serving the energy and industrial markets. The company supplies products and services used in oil and natural gas exploration, production, midstream infrastructure, refining, petrochemical processing, and industrial applications.

Its offerings include pipes, valves, fittings, flanges, gaskets, fasteners, instrumentation, electrical products, production equipment, artificial lift products, and other maintenance, repair, and operating supplies.