NOW (NYSE:DNOW) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of NOW (NYSE:DNOW) from a hold rating to a sell rating in a report issued on Thursday, Zacks.com reports.

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. “

Several other equities research analysts also recently commented on the company. Capital One Financial upgraded NOW from an equal weight rating to an overweight rating and set a $16.00 price objective for the company in a report on Friday, August 2nd. ValuEngine downgraded NOW from a hold rating to a sell rating in a report on Tuesday, July 16th. Cowen reiterated a market perform rating and issued a $10.00 price objective (down from $11.00) on shares of NOW in a report on Monday, August 5th. Finally, Stifel Nicolaus reduced their price objective on NOW from $15.00 to $14.00 and set a hold rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. NOW currently has a consensus rating of Hold and a consensus price target of $13.80.

Shares of DNOW traded down $0.48 during trading hours on Thursday, hitting $11.87. The company had a trading volume of 604,970 shares, compared to its average volume of 1,042,396. The company’s fifty day moving average is $13.20. The company has a quick ratio of 1.28, a current ratio of 2.55 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.34 billion, a PE ratio of 32.97 and a beta of 1.41. NOW has a 52-week low of $10.36 and a 52-week high of $17.58.

NOW (NYSE:DNOW) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $776.00 million during the quarter, compared to analyst estimates of $767.19 million. NOW had a return on equity of 4.13% and a net margin of 2.16%. NOW’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts predict that NOW will post 0.38 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of NOW by 54.3% during the 4th quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 774 shares in the last quarter. Investors Research Corp raised its holdings in shares of NOW by 61.6% during the 2nd 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. Cullen Frost Bankers Inc. purchased a new stake in shares of NOW during the 1st quarter worth approximately $66,000. Icon Wealth Partners LLC purchased a new stake in shares of NOW during the 1st quarter worth approximately $91,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of NOW during the 1st quarter worth approximately $113,000.

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, 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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