Zacks Investment Research Lowers NOW (NYSE:DNOW) to Hold
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. “
Shares of NYSE DNOW opened at $13.49 on Thursday. The firm’s 50 day simple moving average is $13.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.64 and a quick ratio of 1.30. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 28.10 and a beta of 1.45. NOW has a 12-month low of $10.36 and a 12-month high of $18.56.
A number of hedge funds and other institutional investors have recently made changes to their positions in DNOW. FMR LLC lifted its holdings in NOW by 54.3% during the fourth quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 774 shares in the last quarter. Investors Research Corp lifted its holdings in NOW by 61.6% during the second quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 900 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in NOW during the first quarter valued at approximately $66,000. Icon Wealth Partners LLC purchased a new position in NOW during the first quarter valued at approximately $91,000. Finally, Rockefeller Capital Management L.P. purchased a new position in NOW during the first quarter valued at approximately $113,000.
NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.
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