NOW (NYSE:DNOW) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of NOW (NYSE:DNOW) from a sell rating to a hold rating in a research report released 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 research firms have also recently weighed in on DNOW. ValuEngine raised NOW from a sell rating to a hold rating in a report on Wednesday, October 2nd. Capital One Financial raised NOW from an equal weight rating to an overweight rating and set a $16.00 price target on the stock in a report on Friday, August 2nd. Finally, Cowen reaffirmed a market perform rating and issued a $10.00 price target (down previously from $11.00) on shares of NOW in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $13.25.

DNOW traded down $0.45 during trading on Thursday, reaching $11.54. 639,461 shares of the company were exchanged, compared to its average volume of 787,970. The company’s 50-day moving average is $11.05 and its two-hundred day moving average is $12.51. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 32.06 and a beta of 1.38. The company has a quick ratio of 1.28, a current ratio of 2.44 and a debt-to-equity ratio of 0.03. NOW has a 12-month low of $10.00 and a 12-month high of $15.93.

NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. NOW had a return on equity of 3.45% and a net margin of 1.89%. The firm had revenue of $751.00 million for the quarter, compared to analysts’ expectations of $764.07 million. During the same quarter last year, the firm posted $0.15 EPS. The company’s revenue was down 8.6% compared to the same quarter last year. Equities analysts forecast that NOW will post 0.32 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in DNOW. 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 valued at $35,000 after buying an additional 900 shares in the last quarter. CWM Advisors LLC raised its holdings in shares of NOW by 8.2% during the 2nd quarter. CWM Advisors LLC now owns 12,075 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 915 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of NOW by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 78,906 shares of the oil and gas company’s stock valued at $1,165,000 after buying an additional 1,040 shares in the last quarter. Dupont Capital Management Corp raised its holdings in shares of NOW by 10.2% during the 3rd quarter. Dupont Capital Management Corp now owns 12,897 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 1,197 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of NOW by 1.3% during the 2nd quarter. Morgan Stanley now owns 165,993 shares of the oil and gas company’s stock valued at $2,450,000 after buying an additional 2,195 shares in the last quarter.

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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