NCS Multistage (NASDAQ:NCSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
Several other equities research analysts have also recently commented on the company. BidaskClub upgraded NCS Multistage from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 27th. Royal Bank of Canada restated a “buy” rating and set a $19.00 price target on shares of NCS Multistage in a research note on Thursday, August 9th. ValuEngine upgraded NCS Multistage from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, Wells Fargo & Co upped their price target on NCS Multistage from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $23.00.
Shares of NASDAQ NCSM opened at $16.10 on Tuesday. 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 has a twelve month low of $12.57 and a twelve month high of $24.85. The company has a market capitalization of $723.03 million, a price-to-earnings ratio of 80.60 and a beta of 0.76.
NCS Multistage (NASDAQ:NCSM) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). NCS Multistage had a net margin of 3.16% and a return on equity of 2.80%. The firm had revenue of $43.40 million during the quarter, compared to analysts’ expectations of $48.65 million. sell-side analysts anticipate that NCS Multistage will post 0.54 earnings per share for the current year.
In other NCS Multistage news, CAO Wade Bitter sold 12,750 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $16.27, for a total value of $207,442.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 13,650 shares of company stock valued at $222,083 in the last 90 days. Company insiders own 11.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NCSM. JPMorgan Chase & Co. raised its position in NCS Multistage by 54.5% in the first quarter. JPMorgan Chase & Co. now owns 12,257 shares of the company’s stock worth $184,000 after acquiring an additional 4,322 shares in the last quarter. Renaissance Technologies LLC purchased a new position in NCS Multistage in the fourth quarter worth $243,000. Millennium Management LLC purchased a new position in NCS Multistage in the first quarter worth $257,000. Energy Opportunities Capital Management LLC purchased a new position in NCS Multistage in the second quarter worth $259,000. Finally, Trexquant Investment LP purchased a new position in NCS Multistage in the first quarter worth $301,000. Hedge funds and other institutional investors own 95.80% of the company’s stock.
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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