NOW Inc. (NYSE:DNOW)‘s stock had its “neutral” rating reaffirmed by Robert W. Baird in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $15.00 target price on the oil and gas company’s stock, down from their previous target price of $20.00. Robert W. Baird’s price target indicates a potential upside of 13.72% from the stock’s current price.
Several other research analysts have also commented on DNOW. BidaskClub lowered NOW from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research downgraded NOW from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Cowen and Company set a $14.00 price objective on NOW and gave the stock a “hold” rating in a research report on Friday, October 6th. Stifel Nicolaus set a $18.00 price objective on NOW and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co cut their price objective on NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, September 12th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. NOW currently has an average rating of “Hold” and an average price target of $17.78.
NOW (DNOW) traded down 1.251% during midday trading on Monday, reaching $13.025. 672,359 shares of the company were exchanged. NOW has a 52 week low of $11.31 and a 52 week high of $23.53. The firm’s 50 day moving average price is $12.77 and its 200-day moving average price is $15.26. The stock’s market capitalization is $1.40 billion.
NOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The business had revenue of $651.00 million for the quarter, compared to analyst estimates of $674.97 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities analysts forecast that NOW will post ($0.26) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of NOW during the second quarter worth about $295,000. Schneider Capital Management Corp grew its position in shares of NOW by 5.1% during the second quarter. Schneider Capital Management Corp now owns 182,900 shares of the oil and gas company’s stock worth $2,941,000 after buying an additional 8,900 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of NOW during the second quarter worth about $1,485,000. Sterling Capital Management LLC acquired a new position in shares of NOW during the second quarter worth about $1,090,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of NOW by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 237,158 shares of the oil and gas company’s stock worth $3,813,000 after buying an additional 2,050 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.
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.
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