Newpark Resources Upgraded to “Outperform” by Raymond James (NR)
Newpark Resources (NYSE:NR) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of Newpark Resources (NYSE:NR) traded down 1.43% during mid-day trading on Monday, hitting $12.38. The stock had a trading volume of 447,842 shares. Newpark Resources has a 52-week low of $6.29 and a 52-week high of $12.88. The stock’s 50-day moving average is $11.67 and its 200-day moving average is $10.88. The company has a market cap of $1.083 billion and a price-to-earnings ratio of 18.92.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, July 25th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.02. The company had revenue of $276.62 million for the quarter, compared to the consensus estimate of $272.03 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Newpark Resources will post $0.79 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Clarkson Capital upgraded shares of Newpark Resources (NYSE:NR) from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, August 12th. Separately, analysts at SunTrust raised their price target on shares of Newpark Resources (NYSE:NR) from $10.00 to $12.00 in a research note to investors on Monday, July 29th. They now have a “neutral” rating on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of Newpark Resources (NYSE:NR) from $12.50 to $14.00 in a research note to investors on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Newpark Resources has an average rating of “Hold” and an average price target of $12.86.
Newpark Resources, Inc, is a diversified oil and gas supplier providing products and services primarily to the oil and gases exploration (NYSE:NR) industry.
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