Zacks Investment Research upgraded shares of NOW Inc. (NYSE:DNOW) from a sell rating to a hold rating in a report published on Wednesday.

According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “

Several other research firms have also weighed in on DNOW. Stifel Nicolaus set a $18.00 target price on shares of NOW and gave the company a buy rating in a report on Wednesday, August 2nd. Robert W. Baird reiterated a neutral rating and issued a $15.00 target price (down from $20.00) on shares of NOW in a report on Monday, October 9th. Seaport Global Securities lowered shares of NOW from a buy rating to a neutral rating and decreased their target price for the company from $22.00 to $17.00 in a report on Wednesday, June 21st. BidaskClub lowered shares of NOW from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Cowen and Company set a $14.00 target price on shares of NOW and gave the company a hold rating in a report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. NOW presently has a consensus rating of Hold and a consensus target price of $17.78.

Shares of NOW (NYSE DNOW) traded down 0.99% on Wednesday, hitting $13.06. 1,450,888 shares of the company were exchanged. The stock’s market capitalization is $1.41 billion. The firm’s 50-day moving average is $12.82 and its 200-day moving average is $15.24. NOW has a 52-week low of $11.31 and a 52-week high of $23.53.

NOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. NOW’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) earnings per share. Equities research analysts predict that NOW will post ($0.26) earnings per share for the current year.

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Hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of NOW by 130.2% in the 2nd quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 3,940 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of NOW in the 1st quarter worth approximately $127,000. Riverhead Capital Management LLC lifted its holdings in shares of NOW by 70.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock worth $128,000 after acquiring an additional 3,290 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of NOW by 18.9% in the 2nd quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 1,420 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of NOW in the 2nd quarter worth approximately $170,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

About NOW

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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