BidaskClub cut shares of NCS Multistage (NASDAQ:NCSM) from a buy rating to a hold rating in a research note released on Friday morning.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of NCS Multistage from a hold rating to a buy rating and set a $19.00 price target for the company in a report on Saturday, May 12th. ValuEngine cut shares of NCS Multistage from a sell rating to a strong sell rating in a report on Tuesday, May 22nd. Royal Bank of Canada reaffirmed a buy rating and issued a $19.00 price target on shares of NCS Multistage in a report on Thursday, August 9th. Finally, Wells Fargo & Co raised their price target on shares of NCS Multistage from $18.00 to $21.00 and gave the stock an outperform rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $23.00.
NASDAQ NCSM opened at $16.06 on Friday. The firm has a market capitalization of $730.22 million, a price-to-earnings ratio of 80.30 and a beta of 0.76. NCS Multistage has a 12-month low of $12.57 and a 12-month high of $24.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.74 and a quick ratio of 2.73.
NCS Multistage (NASDAQ:NCSM) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The company had revenue of $43.40 million during the quarter, compared to analysts’ expectations of $48.65 million. NCS Multistage had a return on equity of 2.80% and a net margin of 3.16%. equities analysts anticipate that NCS Multistage will post 0.53 earnings per share for the current year.
In related news, CAO Wade Bitter sold 12,750 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $16.27, for a total transaction of $207,442.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCSM. FMR LLC increased its holdings in NCS Multistage by 18.1% in the second quarter. FMR LLC now owns 4,311,228 shares of the company’s stock valued at $62,642,000 after buying an additional 661,076 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in NCS Multistage in the first quarter valued at $7,368,000. Precocity Capital LP purchased a new position in NCS Multistage in the first quarter valued at $5,250,000. Russell Investments Group Ltd. purchased a new position in NCS Multistage in the second quarter valued at $4,939,000. Finally, Foundry Partners LLC purchased a new position in NCS Multistage in the second quarter valued at $3,825,000. 94.16% of the stock is owned by institutional investors.
NCS Multistage Company Profile
NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.
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