DNOW (NYSE:DNOW) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of DNOW (NYSE:DNOW) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

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

DNOW Price Performance

Shares of DNOW opened at $11.67 on Monday. The business has a 50-day moving average of $14.45 and a 200-day moving average of $14.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.34 and a quick ratio of 1.11. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -40.22 and a beta of 0.79. DNOW has a 1 year low of $11.55 and a 1 year high of $17.48.

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

Hedge Funds Weigh In On DNOW

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

About DNOW

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.