NCS Multistage Holdings, Inc. (NCSM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of NCS Multistage Holdings, Inc. (NASDAQ:NCSM) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

NCSM has been the subject of several other reports. Credit Suisse Group initiated coverage on NCS Multistage Holdings in a report on Tuesday, May 23rd. They set an outperform rating and a $27.00 target price for the company. Wells Fargo & Company initiated coverage on NCS Multistage Holdings in a report on Tuesday, May 23rd. They set an outperform rating for the company. Citigroup Inc. initiated coverage on NCS Multistage Holdings in a report on Thursday, May 25th. They set a buy rating for the company. Raymond James Financial, Inc. initiated coverage on NCS Multistage Holdings in a report on Thursday, June 15th. They set an outperform rating and a $30.00 target price for the company. Finally, Tudor Pickering initiated coverage on NCS Multistage Holdings in a report on Thursday, June 1st. They set a buy rating for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $27.83.

NCS Multistage Holdings (NCSM) traded down 4.32% during mid-day trading on Thursday, reaching $20.39. The company’s stock had a trading volume of 36,589 shares. NCS Multistage Holdings has a 52 week low of $10.19 and a 52 week high of $29.07. The firm has a 50-day moving average of $20.88 and a 200-day moving average of $22.22. The stock has a market capitalization of $888.09 million and a price-to-earnings ratio of 926.82.

NCS Multistage Holdings (NASDAQ:NCSM) last posted its earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The company had revenue of $36.86 million for the quarter, compared to the consensus estimate of $29.14 million. On average, equities research analysts expect that NCS Multistage Holdings will post $0.34 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors acquired a new position in shares of NCS Multistage Holdings during the second quarter worth approximately $157,000. Alliancebernstein L.P. acquired a new position in shares of NCS Multistage Holdings during the second quarter worth approximately $201,000. The Manufacturers Life Insurance Company acquired a new position in shares of NCS Multistage Holdings during the second quarter worth approximately $211,000. Parametric Portfolio Associates LLC acquired a new position in shares of NCS Multistage Holdings during the second quarter worth approximately $257,000. Finally, Rhumbline Advisers acquired a new position in shares of NCS Multistage Holdings during the second quarter worth approximately $276,000. Institutional investors and hedge funds own 91.57% of the company’s stock.

NCS Multistage Holdings Company Profile

NCS Multistage Holdings, Inc is a provider of engineered products and support services for oil and natural gas well completions and field development strategies. The Company’s products and services include Multistage Unlimited, casing-installed sliding sleeves, downhole frac isolation assembly, AirLock casing buoyancy system and liner hanger systems.

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Analyst Recommendations for NCS Multistage Holdings (NASDAQ:NCSM)

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