NOW Inc (DNOW) Receives Consensus Recommendation of “Hold” from Analysts

NOW Inc (NYSE:DNOW) has been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.90.

Several equities research analysts have recently issued reports on DNOW shares. UBS Group cut shares of NOW from a “positive” rating to a “neutral” rating in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price objective on shares of NOW in a research report on Friday, November 3rd. ValuEngine cut shares of NOW from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Citigroup cut shares of NOW from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $11.00 in a research report on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $15.00 price objective (up from $12.50) on shares of NOW in a research report on Tuesday, January 16th.

A number of institutional investors and hedge funds have recently made changes to their positions in DNOW. Ameriprise Financial Inc. lifted its position in NOW by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 325,026 shares of the oil and gas company’s stock valued at $5,226,000 after acquiring an additional 30,581 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in NOW by 8.4% in the second quarter. Thrivent Financial For Lutherans now owns 21,880 shares of the oil and gas company’s stock valued at $352,000 after acquiring an additional 1,700 shares during the last quarter. New York State Common Retirement Fund lifted its position in NOW by 33.3% in the second quarter. New York State Common Retirement Fund now owns 271,777 shares of the oil and gas company’s stock valued at $4,370,000 after acquiring an additional 67,876 shares during the last quarter. Northern Trust Corp lifted its position in NOW by 0.9% in the second quarter. Northern Trust Corp now owns 1,717,102 shares of the oil and gas company’s stock valued at $27,610,000 after acquiring an additional 15,906 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position 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 during the last quarter.

Shares of NOW (DNOW) opened at $9.87 on Tuesday. The stock has a market cap of $1,010.00, a price-to-earnings ratio of -8.81 and a beta of 0.84. NOW has a 1 year low of $9.12 and a 1 year high of $22.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 2.72.

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NOW Company Profile

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.

Analyst Recommendations for NOW (NYSE:DNOW)

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