Investment analysts at Evercore ISI initiated coverage on shares of Newpark Resources, Inc. (NYSE:NR) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $10.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 24.22% from the stock’s previous close.

NR has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Tuesday, September 20th. Loop Capital assumed coverage on shares of Newpark Resources in a research report on Friday, September 30th. They issued a “hold” rating for the company. Finally, Credit Suisse Group set a $8.00 target price on shares of Newpark Resources and gave the stock a “buy” rating in a research report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $20.16.

Analyst Recommendations for Newpark Resources (NYSE:NR)

Shares of Newpark Resources (NYSE:NR) traded down 0.62% during trading on Tuesday, reaching $8.05. 1,329,181 shares of the company’s stock were exchanged. Newpark Resources has a 52-week low of $3.35 and a 52-week high of $8.75. The firm’s market capitalization is $681.46 million. The company has a 50 day moving average of $7.76 and a 200 day moving average of $6.95.

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Newpark Resources (NYSE:NR) last released its earnings results on Thursday, October 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.05. Newpark Resources had a negative return on equity of 7.64% and a negative net margin of 25.52%. The company earned $104.55 million during the quarter, compared to analysts’ expectations of $109.12 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The firm’s quarterly revenue was down 32.2% compared to the same quarter last year. Equities analysts anticipate that Newpark Resources will post ($0.44) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock worth $104,000 after buying an additional 4,203 shares during the last quarter. KCG Holdings Inc. purchased a new position in Newpark Resources during the third quarter worth about $106,000. Marshall Wace LLP purchased a new position in Newpark Resources during the second quarter worth about $115,000. Two Sigma Securities LLC purchased a new position in Newpark Resources during the third quarter worth about $115,000. Finally, BlackRock Inc. raised its position in Newpark Resources by 293.0% in the second quarter. BlackRock Inc. now owns 23,392 shares of the company’s stock worth $136,000 after buying an additional 17,440 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

About Newpark Resources

Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.

5 Day Chart for NYSE:NR

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