NOW Inc. (DNOW) Upgraded to Buy at BidaskClub
BidaskClub upgraded shares of NOW Inc. (NYSE:DNOW) from a hold rating to a buy rating in a research report released on Saturday morning.
A number of other brokerages have also issued reports on DNOW. J P Morgan Chase & Co dropped their target price on NOW from $15.00 to $12.00 and set a neutral rating on the stock in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a buy rating and set a $18.00 target price on shares of NOW in a research report on Thursday, September 7th. Credit Suisse Group set a $15.00 target price on NOW and gave the stock a hold rating in a research report on Friday, August 4th. Zacks Investment Research raised NOW from a sell rating to a hold rating in a research report on Monday, July 31st. Finally, Seaport Global Securities lowered NOW from a buy rating to a neutral rating and dropped their target price for the stock from $22.00 to $17.00 in a research report on Wednesday, June 21st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $19.10.
NOW (DNOW) traded up 1.17% on Friday, hitting $13.81. The stock had a trading volume of 1,972,790 shares. The company’s 50 day moving average is $12.36 and its 200 day moving average is $15.67. The firm’s market cap is $1.49 billion. NOW has a 12-month low of $11.31 and a 12-month high of $23.53.
NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, hitting the Zacks’ 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 firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. On average, equities research analysts expect that NOW will post ($0.25) EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in NOW in the second quarter valued at about $295,000. Schneider Capital Management Corp increased its holdings in NOW by 5.1% in the second quarter. Schneider Capital Management Corp now owns 182,900 shares of the oil and gas company’s stock valued at $2,941,000 after buying an additional 8,900 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in NOW in the second quarter valued at about $1,485,000. Sterling Capital Management LLC bought a new stake in NOW in the second quarter valued at about $1,090,000. Finally, The Manufacturers Life Insurance Company increased its holdings in NOW by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 237,158 shares of the oil and gas company’s stock valued at $3,813,000 after buying an additional 2,050 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other 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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