NOW Inc. (DNOW) Upgraded at BidaskClub
NOW Inc. (NYSE:DNOW) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Several other analysts have also recently weighed in on the company. J P Morgan Chase & Co reduced their price target on NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. Stifel Nicolaus restated a “buy” rating and set a $18.00 price target on shares of NOW in a report on Thursday, September 7th. Credit Suisse Group set a $15.00 price target on NOW and gave the stock a “hold” rating in a report on Friday, August 4th. Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Seaport Global Securities cut NOW from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $17.00 in a report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.10.
Shares of NOW (NYSE:DNOW) traded up 0.08% during midday trading on Friday, reaching $12.99. 1,454,546 shares of the company’s stock were exchanged. NOW has a 12 month low of $11.31 and a 12 month high of $23.53. The company’s 50 day moving average is $12.36 and its 200-day moving average is $15.67. The stock’s market cap is $1.40 billion.
NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The company had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) earnings per share. Equities analysts forecast that NOW will post ($0.24) EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its stake in shares of NOW by 0.7% in the second quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 105 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of NOW by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock worth $270,000 after acquiring an additional 115 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of NOW by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock worth $604,000 after acquiring an additional 208 shares during the period. State Treasurer State of Michigan lifted its stake in shares of NOW by 0.9% in the first quarter. State Treasurer State of Michigan now owns 43,627 shares of the oil and gas company’s stock worth $740,000 after acquiring an additional 400 shares during the period. Finally, Advantus Capital Management Inc lifted its stake in shares of NOW by 3.0% in the first quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 403 shares during the period. 99.97% of the stock is currently owned by institutional investors.
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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