DNOW (NYSE:DNOW) Upgraded at Freedom Capital

DNOW (NYSE:DNOW) was upgraded by stock analysts at Freedom Capital to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on DNOW. Stifel Nicolaus reduced their price target on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. DA Davidson started coverage on DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 price objective on the stock. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Trading Down 2.3%

NYSE DNOW opened at $13.40 on Monday. The stock has a market capitalization of $2.45 billion, a P/E ratio of -18.36 and a beta of 0.82. DNOW has a 52-week low of $10.94 and a 52-week high of $17.26. The firm has a 50-day moving average price of $13.07 and a 200 day moving average price of $13.36. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $0.22 EPS. DNOW’s revenue for the quarter was up 97.5% on a year-over-year basis. Equities research analysts expect that DNOW will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in DNOW in the 4th quarter valued at about $25,000. Quarry LP raised its position in DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,703 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of DNOW by 8,060.0% in the first quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 2,418 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of DNOW by 132.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

About DNOW

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.