DNOW (NYSE:DNOW) Reaches New 12-Month Low on Analyst Downgrade

DNOW Inc. (NYSE:DNOW)’s share price reached a new 52-week low during trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $11.74 and last traded at $11.8450, with a volume of 14209137 shares. The stock had previously closed at $13.23.

Several other research analysts have also commented on the company. Wall Street Zen raised DNOW from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. KeyCorp set a $19.00 target price on shares of DNOW in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of DNOW in a research note on Monday, December 29th. Stifel Nicolaus decreased their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday. Finally, Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target on the stock in a research report on Friday, November 21st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, DNOW presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Institutional Investors Weigh In On DNOW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in DNOW in the 4th quarter worth approximately $25,000. Quarry LP lifted its stake in DNOW by 712.6% in the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,703 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in DNOW by 190.5% in 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 in the last quarter. Clearstead Advisors LLC increased its position in DNOW by 132.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in DNOW by 2,101.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 2,501 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

DNOW Stock Performance

The company’s 50-day moving average price is $14.45 and its 200 day moving average price is $14.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34. The stock has a market capitalization of $1.22 billion, a PE ratio of -40.22 and a beta of 0.79.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. The company had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $969.50 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. DNOW’s quarterly revenue was up 68.0% on a year-over-year basis. On average, equities research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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.