Zacks Investment Research upgraded shares of NOW (NYSE:DNOW) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. They currently have $15.00 target price on the oil and gas company’s stock.
According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “
NYSE DNOW opened at $13.49 on Wednesday. The business’s fifty day moving average is $13.87. The company has a market capitalization of $1.47 billion, a PE ratio of 28.10 and a beta of 1.45. NOW has a fifty-two week low of $10.36 and a fifty-two week high of $18.56. The company has a current ratio of 2.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.13.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its position in shares of NOW by 14.4% during the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 199,000 shares of the oil and gas company’s stock worth $2,937,000 after acquiring an additional 25,000 shares in the last quarter. Investors Research Corp increased its position in shares of NOW by 61.6% during the second quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 900 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of NOW during the first quarter worth about $913,000. Clearbridge Investments LLC increased its position in shares of NOW by 4.1% during the first quarter. Clearbridge Investments LLC now owns 9,467,335 shares of the oil and gas company’s stock worth $132,164,000 after acquiring an additional 375,350 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of NOW during the first quarter worth about $113,000.
NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.
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