NOW Inc. (DNOW) Rating Reiterated by Stifel Nicolaus
NOW Inc. (NYSE:DNOW)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a report released on Thursday. They currently have a $18.00 price target on the oil and gas company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 48.03% from the stock’s previous close.
A number of other analysts have also weighed in on DNOW. Credit Suisse Group reduced their price objective on shares of NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. KeyCorp reissued an “overweight” rating and issued a $22.00 price objective on shares of NOW in a research report on Friday, May 26th. Seaport Global Securities lowered shares of NOW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $17.00 in a research report on Wednesday, June 21st. Zacks Investment Research lowered shares of NOW from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.30.
NOW (NYSE DNOW) traded up 0.66% during midday trading on Thursday, reaching $12.16. The company’s stock had a trading volume of 1,230,974 shares. The firm’s market cap is $1.31 billion. NOW has a one year low of $11.31 and a one year high of $23.53. The firm has a 50 day moving average price of $13.15 and a 200 day moving average price of $16.09.
NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm had revenue of $651 million during the quarter, compared to the consensus estimate of $674.97 million. During the same quarter last year, the firm earned ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Equities research analysts forecast that NOW will post ($0.24) EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in NOW during the second quarter valued at approximately $295,000. Schneider Capital Management Corp increased its holdings in NOW by 5.1% during the second quarter. Schneider Capital Management Corp now owns 182,900 shares of the oil and gas company’s stock valued at $2,941,000 after buying an additional 8,900 shares during the period. Piedmont Investment Advisors LLC purchased a new position in NOW during the second quarter valued at approximately $1,485,000. Sterling Capital Management LLC purchased a new position in NOW during the second quarter valued at approximately $1,090,000. Finally, The Manufacturers Life Insurance Company increased its holdings in NOW by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 237,158 shares of the oil and gas company’s stock valued at $3,813,000 after buying an additional 2,050 shares during the period. 96.71% of the stock is currently owned by institutional investors.
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.
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