NOW (NYSE:DNOW) Rating Increased to Hold at ValuEngine

NOW (NYSE:DNOW) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

A number of other equities analysts have also recently issued reports on the stock. Capital One Financial upgraded shares of NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research note on Friday, August 2nd. Cowen restated a “market perform” rating and issued a $10.00 price objective (down previously from $11.00) on shares of NOW in a research note on Monday, August 5th. Stifel Nicolaus dropped their price objective on shares of NOW from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Finally, Zacks Investment Research upgraded shares of NOW from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. NOW presently has a consensus rating of “Hold” and a consensus target price of $13.80.

Shares of DNOW stock traded up $0.02 during mid-day trading on Wednesday, reaching $10.66. The company’s stock had a trading volume of 774,100 shares, compared to its average volume of 771,782. NOW has a 1-year low of $10.32 and a 1-year high of $16.98. The company has a market cap of $1.15 billion, a P/E ratio of 29.61 and a beta of 1.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.28 and a current ratio of 2.55. The firm’s 50-day moving average is $11.76 and its two-hundred day moving average is $13.32.

NOW (NYSE:DNOW) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. NOW had a net margin of 2.16% and a return on equity of 4.13%. The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $767.19 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that NOW will post 0.35 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in shares of NOW during the 3rd quarter worth about $221,000. Royal Bank of Canada increased its position in shares of NOW by 6.1% during the 2nd quarter. Royal Bank of Canada now owns 135,055 shares of the oil and gas company’s stock worth $1,994,000 after purchasing an additional 7,779 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of NOW during the 2nd quarter worth about $6,975,000. UBS Asset Management Americas Inc. increased its position in shares of NOW by 7.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 101,674 shares of the oil and gas company’s stock worth $1,501,000 after purchasing an additional 6,616 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of NOW during the 2nd quarter worth about $99,000.

NOW Company Profile

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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