NOW Inc (DNOW) Receives $15.50 Average Price Target from Analysts

NOW Inc (NYSE:DNOW) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.50.

A number of research firms have recently weighed in on DNOW. Zacks Investment Research lowered NOW from a “buy” rating to a “hold” rating in a research note on Friday, January 18th. ValuEngine downgraded NOW from a “hold” rating to a “sell” rating in a report on Thursday, December 20th. Finally, Stifel Nicolaus downgraded NOW from a “buy” rating to a “hold” rating and decreased their target price for the company from $17.00 to $13.00 in a report on Wednesday, December 19th.

Several institutional investors have recently made changes to their positions in DNOW. FMR LLC grew its stake in shares of NOW by 54.3% in the fourth quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 774 shares during the last quarter. First Hawaiian Bank grew its stake in shares of NOW by 27.6% in the fourth quarter. First Hawaiian Bank now owns 6,581 shares of the oil and gas company’s stock worth $77,000 after acquiring an additional 1,425 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of NOW in the fourth quarter worth $117,000. AQR Capital Management LLC purchased a new stake in shares of NOW in the third quarter worth $171,000. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of NOW in the fourth quarter worth $128,000.

Shares of DNOW opened at $15.47 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 42.97 and a beta of 1.40. The company has a quick ratio of 1.40, a current ratio of 2.76 and a debt-to-equity ratio of 0.11. NOW has a 1 year low of $10.36 and a 1 year high of $18.56.

NOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, February 14th. The oil and gas company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $772.87 million. NOW had a return on equity of 3.24% and a net margin of 1.66%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Sell-side analysts anticipate that NOW will post 0.43 earnings per share for the current fiscal year.

NOW Company Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Analyst Recommendations for NOW (NYSE:DNOW)

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