NOW Inc (DNOW) Given Average Rating of “Hold” by Brokerages

Shares of NOW Inc (NYSE:DNOW) have been assigned a consensus rating of “Hold” from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.44.

Several equities research analysts have issued reports on DNOW shares. Cowen reaffirmed a “market perform” rating and set a $11.00 price target (up from $9.00) on shares of NOW in a research note on Thursday, May 3rd. Stifel Nicolaus raised their price target on shares of NOW from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 3rd. TheStreet raised shares of NOW from a “d+” rating to a “c” rating in a research note on Wednesday, May 16th. ValuEngine raised shares of NOW from a “strong sell” rating to a “sell” rating in a research note on Friday, May 18th. Finally, Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, July 3rd.

Shares of NOW traded up $0.20, hitting $17.25, during mid-day trading on Tuesday, Marketbeat.com reports. 2,272,481 shares of the stock were exchanged, compared to its average volume of 1,368,739. NOW has a twelve month low of $9.12 and a twelve month high of $18.56. The stock has a market capitalization of $1.85 billion, a P/E ratio of 189.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.89 and a quick ratio of 1.45.

NOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.07. NOW had a net margin of 0.14% and a return on equity of 0.76%. The company had revenue of $777.00 million for the quarter, compared to analysts’ expectations of $761.78 million. During the same period last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. analysts forecast that NOW will post 0.3 EPS for the current year.

Several hedge funds have recently made changes to their positions in DNOW. NumerixS Investment Technologies Inc purchased a new position in shares of NOW during the 2nd quarter worth about $120,000. Jane Street Group LLC purchased a new position in shares of NOW during the 4th quarter worth about $133,000. Neuburgh Advisers LLC lifted its holdings in shares of NOW by 51.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 10,560 shares of the oil and gas company’s stock worth $141,000 after acquiring an additional 3,600 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of NOW during the 2nd quarter worth about $146,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of NOW by 51.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 16,587 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 5,600 shares during the period.

About NOW

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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Analyst Recommendations for NOW (NYSE:DNOW)

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