Newpark Resources Inc. (NYSE:NR) Receives $21.18 Consensus Target Price from Brokerages
Newpark Resources Inc. (NYSE:NR) has been given an average rating of “Buy” by the ten ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $23.46.
A number of research firms have recently weighed in on NR. Credit Suisse Group AG set a $7.00 price target on Newpark Resources and gave the company a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Wednesday, July 6th. Loop Capital began coverage on Newpark Resources in a research note on Friday, September 30th. They issued a “hold” rating on the stock. Capital One Financial Corp. raised Newpark Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $5.00 to $6.00 in a research note on Wednesday, June 15th. Finally, 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.
Newpark Resources (NYSE:NR) opened at 7.64 on Monday. The stock’s market cap is $645.73 million. Newpark Resources has a one year low of $3.35 and a one year high of $7.72. The stock’s 50 day moving average price is $7.11 and its 200-day moving average price is $5.70.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.09. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. The firm had revenue of $115.30 million for the quarter, compared to the consensus estimate of $106.93 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, analysts predict that Newpark Resources will post ($0.43) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in NR. Ngam Advisors L.P. boosted its position in Newpark Resources by 48.9% in the first quarter. Ngam Advisors L.P. now owns 351,264 shares of the company’s stock worth $1,517,000 after buying an additional 115,370 shares during the period. BlackRock Fund Advisors boosted its position in Newpark Resources by 1.5% in the first quarter. BlackRock Fund Advisors now owns 5,665,901 shares of the company’s stock worth $24,477,000 after buying an additional 85,153 shares during the period. Royce & Associates LP boosted its position in Newpark Resources by 16.1% in the first quarter. Royce & Associates LP now owns 2,757,931 shares of the company’s stock worth $11,914,000 after buying an additional 381,500 shares during the period. Geode Capital Management LLC boosted its position in Newpark Resources by 9.2% in the first quarter. Geode Capital Management LLC now owns 574,374 shares of the company’s stock worth $2,481,000 after buying an additional 48,363 shares during the period. Finally, Bogle Investment Management L P DE boosted its position in Newpark Resources by 69.4% in the first quarter. Bogle Investment Management L P DE now owns 335,165 shares of the company’s stock worth $1,447,000 after buying an additional 137,303 shares during the period. Hedge funds and other institutional investors 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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