NOW Inc. (NYSE:DNOW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “

Several other brokerages also recently commented on DNOW. Stifel Nicolaus set a $18.00 target price on NOW and gave the company a “buy” rating in a report on Wednesday, August 2nd. Robert W. Baird reiterated a “buy” rating and set a $20.00 target price on shares of NOW in a report on Monday. Seaport Global Securities downgraded NOW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $17.00 in a report on Wednesday, June 21st. BidaskClub downgraded NOW from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Cowen and Company set a $14.00 target price on NOW and gave the company a “hold” rating in a report on Friday, October 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.33.

NOW (NYSE DNOW) traded up 0.08% during trading on Wednesday, reaching $13.30. The company’s stock had a trading volume of 972,340 shares. NOW has a 1-year low of $11.31 and a 1-year high of $23.53. The company’s 50-day moving average is $12.69 and its 200-day moving average is $15.28. The company’s market capitalization is $1.43 billion.

NOW (NYSE:DNOW) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $651.00 million for the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the business posted ($0.40) EPS. Equities analysts anticipate that NOW will post ($0.26) EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in NOW by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock valued at $149,030,000 after purchasing an additional 739,256 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NOW by 30.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,162,033 shares of the oil and gas company’s stock valued at $53,626,000 after purchasing an additional 745,677 shares in the last quarter. Federated Investors Inc. PA grew its stake in NOW by 13.0% during the 2nd quarter. Federated Investors Inc. PA now owns 517,150 shares of the oil and gas company’s stock valued at $8,316,000 after purchasing an additional 59,461 shares in the last quarter. State Street Corp grew its stake in NOW by 1.7% during the 1st quarter. State Street Corp now owns 3,468,501 shares of the oil and gas company’s stock valued at $58,823,000 after purchasing an additional 59,238 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in NOW during the 1st quarter valued at approximately $293,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

About NOW

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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Analyst Recommendations for NOW (NYSE:DNOW)

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