NOW (DNOW) Price Target Cut to $9.00 by Analysts at Cowen

NOW (NYSE:DNOW) had its price target dropped by investment analysts at Cowen from $10.00 to $9.00 in a research note issued on Thursday, Marketbeat reports. The brokerage presently has a “market perform” rating on the oil and gas company’s stock. Cowen’s price target points to a potential downside of 7.69% from the company’s current price.

Other analysts also recently issued reports about the company. ValuEngine downgraded NOW from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Seaport Global Securities upgraded NOW from a “neutral” rating to a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Stifel Nicolaus reiterated a “buy” rating and set a $15.00 target price (up from $12.50) on shares of NOW in a research note on Tuesday, January 16th. Finally, UBS Group downgraded NOW from a “positive” rating to a “neutral” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. NOW currently has an average rating of “Hold” and a consensus target price of $12.70.

Shares of NOW (NYSE:DNOW) traded down $0.49 on Thursday, reaching $9.75. The company’s stock had a trading volume of 2,471,553 shares, compared to its average volume of 1,680,000. The company has a current ratio of 2.87, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. NOW has a 1-year low of $9.12 and a 1-year high of $21.32. The stock has a market cap of $1,050.00, a P/E ratio of -20.31 and a beta of 0.84.

NOW (NYSE:DNOW) last issued its earnings results on Wednesday, February 14th. The oil and gas company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.08. NOW had a negative return on equity of 2.46% and a negative net margin of 1.96%. The business had revenue of $669.00 million for the quarter, compared to the consensus estimate of $690.62 million. During the same period last year, the business posted ($0.29) EPS. The company’s revenue was up 24.3% compared to the same quarter last year. equities analysts expect that NOW will post 0.11 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of NOW by 6.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,788,397 shares of the oil and gas company’s stock valued at $66,127,000 after buying an additional 272,430 shares during the period. GMT Capital Corp bought a new position in shares of NOW during the 3rd quarter valued at $3,610,000. Vanguard Group Inc. lifted its holdings in shares of NOW by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after buying an additional 148,959 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of NOW by 2.9% during the 3rd quarter. Wells Fargo & Company MN now owns 853,511 shares of the oil and gas company’s stock valued at $11,787,000 after buying an additional 24,348 shares during the period. Finally, General American Investors Co. Inc. lifted its holdings in shares of NOW by 59.3% during the 3rd quarter. General American Investors Co. Inc. now owns 554,204 shares of the oil and gas company’s stock valued at $7,654,000 after buying an additional 206,275 shares during the period.

TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/02/15/now-dnow-given-new-9-00-price-target-at-cowen.html.

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.

Analyst Recommendations for NOW (NYSE:DNOW)

Receive News & Ratings for NOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply