Newpark Resources Inc. (NR) Coverage Initiated by Analysts at Loop Capital
NR has been the subject of several other research reports. Leerink Swann reissued a buy rating and issued a $108.00 price target on shares of Newpark Resources in a research note on Thursday, August 25th. Zacks Investment Research cut Newpark Resources from a buy rating to a hold rating in a research note on Thursday, July 21st. Credit Suisse Group AG initiated coverage on Newpark Resources in a research note on Monday, July 18th. They issued an outperform rating and a $7.00 price target for the company. Finally, Capital One Financial Corp. raised Newpark Resources from an equal weight rating to an overweight rating and increased their price target for the stock from $5.00 to $6.00 in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $21.18.
Newpark Resources (NYSE:NR) traded down 0.14% during midday trading on Friday, reaching $7.35. The company’s stock had a trading volume of 66,396 shares. Newpark Resources has a 1-year low of $3.35 and a 1-year high of $7.72. The company’s 50-day moving average price is $7.07 and its 200-day moving average price is $5.63. The company’s market capitalization is $621.21 million.
Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.09. The firm earned $115.30 million during the quarter, compared to the consensus estimate of $106.93 million. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. The firm’s revenue was down 29.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) EPS. On average, analysts predict that Newpark Resources will post ($0.43) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in shares of Newpark Resources by 1.4% in the second quarter. Arizona State Retirement System now owns 43,671 shares of the company’s stock valued at $253,000 after buying an additional 600 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Newpark Resources by 0.5% in the second quarter. Alliancebernstein L.P. now owns 136,534 shares of the company’s stock valued at $791,000 after buying an additional 684 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Newpark Resources by 0.3% in the second quarter. Foundry Partners LLC now owns 345,215 shares of the company’s stock valued at $1,999,000 after buying an additional 950 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Newpark Resources by 5.5% in the second quarter. Profund Advisors LLC now owns 27,650 shares of the company’s stock valued at $160,000 after buying an additional 1,432 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock valued at $104,000 after buying an additional 4,203 shares in the last quarter. Institutional investors and hedge funds own 98.74% of the company’s stock.
About Newpark Resources
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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