Zacks Investment Research cut shares of NOW Inc. (NYSE:DNOW) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “

Other analysts also recently issued research reports about the company. Stifel Nicolaus started coverage on NOW in a research report on Tuesday, June 6th. They set a buy rating and a $21.00 price target for the company. BidaskClub upgraded NOW from a hold rating to a buy rating in a research report on Saturday, September 30th. Credit Suisse Group AG set a $15.00 price target on NOW and gave the company a hold rating in a research report on Friday, August 4th. J P Morgan Chase & Co dropped their price target on NOW from $15.00 to $12.00 and set a neutral rating for the company in a research report on Tuesday, September 12th. Finally, Seaport Global Securities downgraded NOW from a buy rating to a neutral rating and dropped their price target for the company from $22.00 to $17.00 in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. NOW presently has an average rating of Hold and an average target price of $19.11.

Shares of NOW (NYSE DNOW) traded down 2.314% on Tuesday, reaching $13.295. The company’s stock had a trading volume of 653,533 shares. NOW has a 12 month low of $11.31 and a 12 month high of $23.53. The firm’s 50-day moving average price is $12.54 and its 200-day moving average price is $15.35. The stock’s market cap is $1.43 billion.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The firm had revenue of $651.00 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 for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS. On average, analysts forecast that NOW will post ($0.25) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in DNOW. BlackRock Inc. raised its holdings in shares of NOW by 16,819.9% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of NOW by 42.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,515,967 shares of the oil and gas company’s stock valued at $72,615,000 after buying an additional 1,353,934 shares in the last quarter. Black Creek Investment Management Inc. raised its holdings in shares of NOW by 50.1% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,333,200 shares of the oil and gas company’s stock valued at $37,518,000 after buying an additional 779,200 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of NOW by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock valued at $149,030,000 after buying an additional 739,256 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of NOW by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,434,114 shares of the oil and gas company’s stock valued at $24,323,000 after buying an additional 710,500 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

About NOW

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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