DistributionNOW (NYSE:DNOW) was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating in a research note issued on Wednesday.
A number of other equities research analysts have also commented on DNOW. Stifel Nicolaus raised their price objective on DistributionNOW from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Cowen restated a “market perform” rating and set a $11.00 price objective (up from $9.00) on shares of DistributionNOW in a research report on Thursday, May 3rd. Zacks Investment Research upgraded DistributionNOW from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. ValuEngine lowered DistributionNOW from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Susquehanna Bancshares set a $11.00 price objective on DistributionNOW and gave the stock a “hold” rating in a research report on Friday, April 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.00.
Shares of DistributionNOW traded up $0.25, reaching $15.16, during midday trading on Wednesday, Marketbeat Ratings reports. The company had a trading volume of 52,239 shares, compared to its average volume of 1,547,122. The company has a quick ratio of 1.35, a current ratio of 2.72 and a debt-to-equity ratio of 0.15. DistributionNOW has a 1-year low of $14.57 and a 1-year high of $15.07. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -55.22 and a beta of 0.83.
In other news, CEO Robert R. Workman purchased 28,550 shares of DistributionNOW stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average cost of $10.51 per share, for a total transaction of $300,060.50. Following the acquisition, the chief executive officer now directly owns 583,616 shares in the company, valued at $6,133,804.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. CLS Investments LLC lifted its holdings in shares of DistributionNOW by 86.9% during the 4th quarter. CLS Investments LLC now owns 1,095,400 shares of the oil and gas company’s stock valued at $12,082,000 after buying an additional 509,400 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of DistributionNOW by 13.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,280,038 shares of the oil and gas company’s stock valued at $14,119,000 after acquiring an additional 151,540 shares in the last quarter. Deutsche Bank AG raised its stake in shares of DistributionNOW by 40.2% in the 4th quarter. Deutsche Bank AG now owns 625,510 shares of the oil and gas company’s stock valued at $6,896,000 after acquiring an additional 179,212 shares in the last quarter. Ensemble Capital Management LLC raised its stake in shares of DistributionNOW by 13.6% in the 4th quarter. Ensemble Capital Management LLC now owns 1,965,895 shares of the oil and gas company’s stock valued at $21,684,000 after acquiring an additional 235,900 shares in the last quarter. Finally, Brookfield Asset Management Inc. bought a new position in shares of DistributionNOW in the 4th quarter valued at approximately $2,482,000.
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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