NCS Multistage (NCSM) Upgraded to Buy by Zacks Investment Research

NCS Multistage (NASDAQ:NCSM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $22.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 17.02% from the stock’s previous close.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

A number of other equities analysts also recently commented on the stock. Credit Suisse Group reduced their target price on shares of NCS Multistage from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. Royal Bank of Canada reduced their target price on shares of NCS Multistage from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 15th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $30.00 target price (down from $35.00) on shares of NCS Multistage in a research note on Wednesday, November 15th. Raymond James Financial raised shares of NCS Multistage from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Finally, UBS Group raised shares of NCS Multistage from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. NCS Multistage presently has a consensus rating of “Buy” and an average price target of $24.86.

NCS Multistage (NASDAQ NCSM) opened at $18.80 on Wednesday. NCS Multistage has a 52-week low of $13.85 and a 52-week high of $29.07. The company has a quick ratio of 2.29, a current ratio of 3.31 and a debt-to-equity ratio of 0.06.

NCS Multistage (NASDAQ:NCSM) last posted its quarterly earnings results on Monday, November 13th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The business had revenue of $55.96 million for the quarter, compared to analyst estimates of $58.92 million. NCS Multistage had a return on equity of 2.22% and a net margin of 2.42%. equities research analysts forecast that NCS Multistage will post 0.13 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in NCS Multistage during the third quarter worth about $262,000. Beck Capital Management LLC raised its stake in shares of NCS Multistage by 8.6% in the 3rd quarter. Beck Capital Management LLC now owns 32,036 shares of the company’s stock valued at $771,000 after acquiring an additional 2,525 shares during the period. Wells Fargo & Company MN raised its stake in shares of NCS Multistage by 126.7% in the 3rd quarter. Wells Fargo & Company MN now owns 43,435 shares of the company’s stock valued at $1,046,000 after acquiring an additional 24,277 shares during the period. Citadel Advisors LLC purchased a new stake in shares of NCS Multistage in the 3rd quarter valued at approximately $350,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of NCS Multistage in the 3rd quarter valued at approximately $495,000. 93.02% of the stock is currently owned by institutional investors.

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NCS Multistage Company Profile

NCS Multistage Holdings, Inc is a provider of engineered products and support services for oil and natural gas well completions and field development strategies. The Company’s products and services include Multistage Unlimited, casing-installed sliding sleeves, downhole frac isolation assembly, AirLock casing buoyancy system and liner hanger systems.

Analyst Recommendations for NCS Multistage (NASDAQ:NCSM)

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