NCS Multistage (NASDAQ:NCSM) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of NCS Multistage (NASDAQ:NCSM) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Weiss Ratings downgraded NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen downgraded NCS Multistage from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold”.

NCS Multistage Price Performance

Shares of NASDAQ NCSM opened at $55.72 on Tuesday. The firm has a 50-day moving average of $58.30 and a two-hundred day moving average of $48.08. The company has a current ratio of 5.35, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $145.99 million, a price-to-earnings ratio of 8.06 and a beta of 0.17. NCS Multistage has a twelve month low of $28.73 and a twelve month high of $87.36.

NCS Multistage (NASDAQ:NCSM) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($1.47). The company had revenue of $45.64 million for the quarter, compared to analyst estimates of $51.22 million. NCS Multistage had a return on equity of 6.58% and a net margin of 10.78%. As a group, analysts expect that NCS Multistage will post 3.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NCS Multistage

Hedge funds have recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in NCS Multistage in the fourth quarter worth approximately $34,000. PNC Financial Services Group Inc. grew its stake in shares of NCS Multistage by 342.6% in the third quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after acquiring an additional 668 shares during the last quarter. Heron Bay Capital Management acquired a new stake in shares of NCS Multistage in the third quarter worth $222,000. Bank of New York Mellon Corp acquired a new stake in shares of NCS Multistage in the first quarter worth $223,000. Finally, NewEdge Advisors LLC lifted its position in NCS Multistage by 3,774.4% in the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after purchasing an additional 7,964 shares during the period. Institutional investors and hedge funds own 70.91% of the company’s stock.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.