NOW (DNOW) PT Lowered to $13.00 at Stifel Nicolaus
NOW (NYSE:DNOW) had its target price decreased by investment analysts at Stifel Nicolaus from $15.00 to $13.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 33.33% from the stock’s previous close.
A number of other research analysts also recently weighed in on DNOW. BidaskClub downgraded NOW from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Cowen dropped their price target on NOW from $14.00 to $10.00 and set a “market perform” rating on the stock in a research note on Thursday, November 2nd. UBS Group downgraded NOW from a “positive” rating to a “neutral” rating in a research note on Thursday, November 2nd. Finally, Citigroup downgraded NOW from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $11.00 in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. NOW has an average rating of “Hold” and a consensus target price of $12.70.
Shares of NOW (NYSE DNOW) traded down $0.49 during trading hours on Thursday, hitting $9.75. The stock had a trading volume of 2,471,553 shares, compared to its average volume of 1,680,000. The firm has a market cap of $1,050.00, a P/E ratio of -20.31 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 1.39. NOW has a 12 month low of $9.12 and a 12 month high of $21.32.
Institutional investors and hedge funds have recently modified their holdings of the business. Shell Asset Management Co. bought a new stake in NOW during the 3rd quarter worth approximately $137,000. HighTower Advisors LLC bought a new stake in NOW during the 2nd quarter worth approximately $170,000. ETRADE Capital Management LLC bought a new stake in NOW during the 3rd quarter worth approximately $165,000. Jane Street Group LLC bought a new stake in NOW during the 4th quarter worth approximately $133,000. Finally, Boothbay Fund Management LLC bought a new stake in NOW during the 3rd quarter worth approximately $176,000.
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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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