DNOW (NYSE:DNOW) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of DNOW (NYSE:DNOW) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other brokerages have also issued reports on DNOW. Weiss Ratings reiterated a “hold (c)” rating on shares of DNOW in a report on Monday, December 29th. KeyCorp set a $19.00 target price on DNOW in a report on Thursday, December 18th. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target on the stock in a research note on Friday, November 21st. Zacks Research raised shares of DNOW from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $18.00 target price on shares of DNOW in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, DNOW currently has a consensus rating of “Buy” and a consensus target price of $17.67.

DNOW Trading Down 0.1%

Shares of DNOW opened at $14.32 on Friday. The firm has a fifty day moving average price of $13.58 and a 200-day moving average price of $14.49. The firm has a market capitalization of $1.50 billion, a P/E ratio of 16.46 and a beta of 0.76. DNOW has a 12-month low of $12.01 and a 12-month high of $18.45.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $634.00 million during the quarter, compared to analyst estimates of $637.13 million. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Analysts predict that DNOW will post 0.86 earnings per share for the current year.

Hedge Funds Weigh In On DNOW

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in shares of DNOW in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,589 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in DNOW by 2,101.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 2,501 shares during the last quarter. Investors Research Corp boosted its stake in DNOW by 61.1% in the fourth quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in DNOW in the third quarter worth $44,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.