Robert W. Baird Reaffirms “Hold” Rating for NOW Inc. (DNOW)
NOW Inc. (NYSE:DNOW)‘s stock had its “hold” rating reissued by equities researchers at Robert W. Baird in a research report issued on Friday. They presently have a $13.00 target price on the oil and gas company’s stock. Robert W. Baird’s target price would indicate a potential upside of 17.33% from the company’s previous close.
A number of other equities analysts have also commented on DNOW. Stifel Nicolaus reaffirmed a “buy” rating on shares of NOW in a research report on Friday, July 14th. Zacks Investment Research lowered shares of NOW from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $15.00 target price on shares of NOW and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co reduced their target price on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.20.
Shares of NOW (NYSE DNOW) traded down $0.40 on Friday, hitting $10.75. The stock had a trading volume of 2,106,081 shares, compared to its average volume of 1,565,773. The company has a quick ratio of 1.39, a current ratio of 2.72 and a debt-to-equity ratio of 0.14.
NOW (NYSE:DNOW) last issued its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $697.00 million for the quarter, compared to analyst estimates of $701.29 million. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the company posted ($0.34) earnings per share. sell-side analysts forecast that NOW will post -0.28 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its stake in NOW by 1.9% in the second quarter. Baillie Gifford & Co. now owns 13,065,945 shares of the oil and gas company’s stock valued at $210,101,000 after acquiring an additional 242,805 shares in the last quarter. BlackRock Inc. boosted its stake in NOW by 16,819.9% in the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock valued at $193,337,000 after acquiring an additional 11,332,262 shares in the last quarter. Vanguard Group Inc. boosted its stake in NOW by 1.7% in the second quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after acquiring an additional 148,959 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NOW by 42.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,515,967 shares of the oil and gas company’s stock valued at $72,615,000 after acquiring an additional 1,353,934 shares in the last quarter. Finally, State Street Corp boosted its stake in NOW by 3.1% in the second quarter. State Street Corp now owns 3,575,912 shares of the oil and gas company’s stock valued at $57,500,000 after acquiring an additional 107,411 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.
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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