ValuEngine Downgrades NOW (DNOW) to Hold

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NOW (NYSE:DNOW) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut NOW from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. TheStreet upgraded NOW from a “d+” rating to a “c” rating in a research report on Wednesday, May 16th. Northcoast Research started coverage on NOW in a research report on Tuesday, July 31st. They set a “neutral” rating on the stock. Stifel Nicolaus increased their price target on NOW from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Cowen increased their price target on NOW from $12.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.50.

Shares of NOW stock opened at $15.80 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.89. The company has a market cap of $1.79 billion, a PE ratio of -58.37 and a beta of 1.05. NOW has a twelve month low of $9.12 and a twelve month high of $18.56.

NOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $777.00 million for the quarter, compared to analysts’ expectations of $761.78 million. NOW had a return on equity of 0.76% and a net margin of 0.14%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) EPS. research analysts expect that NOW will post 0.3 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in NOW by 117.4% in the 2nd quarter. Bank of Montreal Can now owns 1,347,033 shares of the oil and gas company’s stock worth $17,956,000 after buying an additional 727,326 shares in the last quarter. McCollum Christoferson Group LLC grew its holdings in NOW by 2.8% in the 2nd quarter. McCollum Christoferson Group LLC now owns 208,126 shares of the oil and gas company’s stock worth $2,774,000 after buying an additional 5,745 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in NOW by 0.4% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 729,581 shares of the oil and gas company’s stock worth $9,725,000 after buying an additional 2,911 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in NOW by 6.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 65,078 shares of the oil and gas company’s stock worth $867,000 after buying an additional 3,998 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in NOW during the 2nd quarter valued at $343,000.

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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