NOW Inc (DNOW) Receives Average Rating of “Hold” from Brokerages

NOW Inc (NYSE:DNOW) has been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.88.

DNOW has been the topic of a number of recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of NOW in a research note on Tuesday, February 27th. Stifel Nicolaus lowered their target price on shares of NOW from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Seaport Global Securities raised shares of NOW from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th. They noted that the move was a valuation call. ValuEngine downgraded shares of NOW from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Susquehanna Bancshares set a $10.00 target price on shares of NOW and gave the company a “hold” rating in a research note on Thursday, February 15th.

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Shares of NOW (DNOW) traded down $0.55 on Friday, reaching $10.13. 2,042,604 shares of the company were exchanged, compared to its average volume of 1,700,000. The stock has a market capitalization of $1,090.00, a P/E ratio of -21.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 1.37. NOW has a 1-year low of $9.12 and a 1-year high of $18.37.

NOW (NYSE:DNOW) last announced its earnings results on Wednesday, February 14th. The oil and gas company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. The business had revenue of $669.00 million for the quarter, compared to the consensus estimate of $690.62 million. NOW had a negative net margin of 1.96% and a negative return on equity of 2.46%. NOW’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the firm posted ($0.29) earnings per share. research analysts anticipate that NOW will post 0.07 EPS for the current year.

In other NOW news, CEO Robert R. Workman purchased 28,550 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $10.51 per share, with a total value of $300,060.50. Following the completion of the purchase, the chief executive officer now owns 583,616 shares of the company’s stock, valued at approximately $6,133,804.16. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Grandeur Peak Global Advisors LLC purchased a new position in shares of NOW during the fourth quarter worth approximately $745,000. Xact Kapitalforvaltning AB purchased a new position in shares of NOW during the fourth quarter worth approximately $314,000. Brookfield Asset Management Inc. purchased a new position in shares of NOW during the fourth quarter worth approximately $2,482,000. MetLife Investment Advisors LLC purchased a new position in shares of NOW during the fourth quarter worth approximately $1,317,000. Finally, Jane Street Group LLC purchased a new position in shares of NOW during the fourth quarter worth approximately $133,000.

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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.

Analyst Recommendations for NOW (NYSE:DNOW)

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