NCS Multistage (NCSM) Downgraded by ValuEngine

NCS Multistage (NASDAQ:NCSM) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

Several other analysts have also recently commented on NCSM. Citigroup set a $32.00 target price on NCS Multistage and gave the company a “buy” rating in a report on Thursday, October 5th. Royal Bank of Canada set a $30.00 target price on NCS Multistage and gave the company a “buy” rating in a report on Saturday, October 7th. Zacks Investment Research cut NCS Multistage from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Wells Fargo & Co reiterated an “outperform” rating and issued a $30.00 target price (down from $35.00) on shares of NCS Multistage in a report on Wednesday, November 15th. Finally, Credit Suisse Group reduced their target price on NCS Multistage from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, November 15th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $24.86.

NCS Multistage (NASDAQ NCSM) traded down $0.18 during trading on Friday, hitting $16.64. The stock had a trading volume of 114,166 shares, compared to its average volume of 144,492. NCS Multistage has a one year low of $13.85 and a one year high of $29.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.31 and a quick ratio of 2.29.

NCS Multistage (NASDAQ:NCSM) last released its quarterly earnings data on Monday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). NCS Multistage had a net margin of 2.42% and a return on equity of 2.22%. The firm had revenue of $55.96 million during the quarter, compared to analyst estimates of $58.92 million. sell-side analysts predict that NCS Multistage will post 0.12 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in NCSM. Beck Capital Management LLC boosted its holdings in shares of NCS Multistage by 8.6% during the 3rd quarter. Beck Capital Management LLC now owns 32,036 shares of the company’s stock worth $771,000 after buying an additional 2,525 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NCS Multistage by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 32,455 shares of the company’s stock worth $781,000 after buying an additional 3,000 shares in the last quarter. Strs Ohio boosted its holdings in shares of NCS Multistage by 131.3% during the 3rd quarter. Strs Ohio now owns 7,400 shares of the company’s stock worth $178,000 after buying an additional 4,200 shares in the last quarter. Nationwide Fund Advisors bought a new position in shares of NCS Multistage during the 2nd quarter worth approximately $157,000. Finally, Alliancebernstein L.P. bought a new position in shares of NCS Multistage during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 93.33% of the company’s stock.

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NCS Multistage Company Profile

NCS Multistage Holdings, Inc is a provider of engineered products and support services for oil and natural gas well completions and field development strategies. The Company’s products and services include Multistage Unlimited, casing-installed sliding sleeves, downhole frac isolation assembly, AirLock casing buoyancy system and liner hanger systems.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NCS Multistage (NASDAQ:NCSM)

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