NOW Inc. (NYSE:DNOW) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded NOW from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating on shares of NOW in a research report on Friday, July 14th. Seaport Global Securities downgraded NOW from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $17.00 in a research report on Wednesday, June 21st. KeyCorp reiterated an “overweight” rating and issued a $22.00 target price on shares of NOW in a research report on Friday, May 26th. Finally, Credit Suisse Group decreased their price target on NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.30.
Shares of NOW (NYSE DNOW) traded down 1.62% during midday trading on Tuesday, hitting $12.17. 1,059,765 shares of the stock were exchanged. NOW has a one year low of $12.05 and a one year high of $23.53. The stock’s market cap is $1.31 billion. The stock’s 50-day moving average price is $15.20 and its 200 day moving average price is $17.40.
NOW (NYSE:DNOW) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The firm had revenue of $651 million during the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. On average, analysts anticipate that NOW will post ($0.24) earnings per share for the current year.
In related news, Director James Crandell bought 5,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were bought at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the acquisition, the director now directly owns 22,562 shares of the company’s stock, valued at $395,511.86. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. increased its stake in NOW by 1.9% in the second quarter. Baillie Gifford & Co. now owns 13,065,945 shares of the oil and gas company’s stock worth $210,101,000 after buying an additional 242,805 shares in the last quarter. BlackRock Inc. boosted its position in NOW by 16,819.9% in the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock valued at $193,337,000 after buying an additional 11,332,262 shares during the last quarter. Vanguard Group Inc. boosted its position in NOW by 1.7% in the second quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after buying an additional 148,959 shares during the last quarter. First Eagle Investment Management LLC boosted its position in NOW by 0.8% in the first quarter. First Eagle Investment Management LLC now owns 7,744,218 shares of the oil and gas company’s stock valued at $131,342,000 after buying an additional 63,267 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in NOW by 7.4% in the first quarter. Clearbridge Investments LLC now owns 6,990,717 shares of the oil and gas company’s stock valued at $118,563,000 after buying an additional 482,245 shares during the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.
NOW Company Profile
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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