Newpark Resources Inc. (NR) Receives $26.35 Average Price Target from Brokerages
Newpark Resources Inc. (NYSE:NR) has earned an average recommendation of “Buy” from the nine ratings firms that are covering the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $26.35.
A number of research analysts have recently weighed in on the stock. Credit Suisse Group AG set a $7.00 target price on shares of Newpark Resources and gave the company a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Tuesday, September 20th. Loop Capital assumed coverage on shares of Newpark Resources in a research report on Friday, September 30th. They set a “hold” rating for the company. Finally, Leerink Swann reissued a “buy” rating and set a $108.00 target price on shares of Newpark Resources in a research report on Thursday, August 25th.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of 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 last quarter. Bogle Investment Management L P DE boosted its stake 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 valued at $1,447,000 after buying an additional 137,303 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Newpark Resources during the first quarter valued at about $891,000. A.R.T. Advisors LLC boosted its stake in Newpark Resources by 6.7% in the first quarter. A.R.T. Advisors LLC now owns 122,636 shares of the company’s stock valued at $529,000 after buying an additional 7,700 shares in the last quarter. Finally, ZPR Investment Management purchased a new stake in Newpark Resources during the first quarter valued at about $1,853,000. Institutional investors own 99.36% of the company’s stock.
Newpark Resources (NYSE:NR) opened at 6.90 on Tuesday. The company has a 50-day moving average of $6.89 and a 200-day moving average of $6.14. The company’s market capitalization is $584.11 million. Newpark Resources has a 52 week low of $3.35 and a 52 week high of $7.73.
Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.05. Newpark Resources had a negative return on equity of 7.64% and a negative net margin of 25.52%. The firm earned $104.55 million during the quarter, compared to the consensus estimate of $109.12 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down 32.2% on a year-over-year basis. On average, equities research analysts anticipate that Newpark Resources will post ($0.45) EPS for the current year.
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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