DNOW (NYSE:DNOW) Downgraded by Wall Street Zen to Buy

DNOW (NYSE:DNOW) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts also recently weighed in on the company. Stifel Nicolaus cut their target price on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of DNOW in a research report on Monday, December 29th. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price for the company in a research report on Friday, November 21st. KeyCorp set a $19.00 target price on DNOW in a research note on Thursday, December 18th. Finally, Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.00.

DNOW Price Performance

DNOW opened at $11.78 on Friday. DNOW has a 1 year low of $11.55 and a 1 year high of $17.48. 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 $1.24 billion, a price-to-earnings ratio of -40.61 and a beta of 0.79. The firm’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $14.53.

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

Institutional Trading of DNOW

Several hedge funds and other institutional investors have recently modified their holdings of DNOW. Blue Trust Inc. bought a new position in DNOW in the 4th quarter worth approximately $25,000. Quarry LP boosted 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 worth $26,000 after acquiring an additional 1,703 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of DNOW by 190.5% in 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 purchasing an additional 1,589 shares in the last quarter. Clearstead Advisors LLC grew its position in shares of DNOW by 132.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of DNOW by 2,101.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 2,501 shares during the period. Institutional investors own 97.63% of the company’s stock.

DNOW Company Profile

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.