DNOW Inc. (NYSE:DNOW) Receives $17.00 Consensus PT from Analysts

DNOW Inc. (NYSE:DNOW) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.00.

Several research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Stifel Nicolaus dropped their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th.

DNOW Stock Performance

Shares of DNOW opened at $13.51 on Tuesday. The company has a market capitalization of $2.47 billion, a PE ratio of -18.50 and a beta of 0.82. DNOW has a one year low of $10.94 and a one year high of $17.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. The company’s fifty day moving average price is $13.02 and its 200 day moving average price is $13.37.

DNOW (NYSE:DNOW) last announced its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The business’s revenue was up 97.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. As a group, analysts expect that DNOW will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of DNOW by 82.5% during the 1st quarter. Bank of America Corp DE now owns 1,415,723 shares of the oil and gas company’s stock worth $16,861,000 after purchasing an additional 639,774 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of DNOW by 6.2% during the 1st quarter. Arkadios Wealth Advisors now owns 282,758 shares of the oil and gas company’s stock worth $3,368,000 after purchasing an additional 16,431 shares during the period. Sunbelt Securities Inc. increased its stake in DNOW by 8,060.0% in the first quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 2,418 shares during the period. Amundi increased its stake in DNOW by 78.5% in the first quarter. Amundi now owns 49,511 shares of the oil and gas company’s stock valued at $590,000 after acquiring an additional 21,770 shares during the period. Finally, California State Teachers Retirement System increased its stake in DNOW by 25.9% in the first quarter. California State Teachers Retirement System now owns 223,233 shares of the oil and gas company’s stock valued at $2,659,000 after acquiring an additional 45,949 shares during the period. Institutional investors own 97.63% of the company’s stock.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.