DNOW (NYSE:DNOW) Rating Lowered to “Hold” at Wall Street Zen

DNOW (NYSE:DNOW) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other brokerages have also recently issued reports on DNOW. Weiss Ratings cut shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price for the company in a report on Friday, November 21st. Stifel Nicolaus dropped their price target on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. KeyCorp set a $19.00 price target on DNOW in a report on Thursday, December 18th. Finally, Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, DNOW presently has an average rating of “Hold” and a consensus target price of $17.00.

DNOW Stock Down 3.9%

Shares of NYSE:DNOW opened at $11.58 on Friday. The company’s fifty day moving average is $14.22 and its two-hundred day moving average is $14.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34. DNOW has a 1-year low of $11.34 and a 1-year high of $17.48. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -39.93 and a beta of 0.79.

DNOW (NYSE:DNOW) last posted its quarterly 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 negative net margin of 2.66% and a positive return on equity of 7.26%. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $969.50 million. During the same period in the previous year, the business posted $0.25 EPS. The company’s quarterly revenue was up 68.0% on a year-over-year basis. Equities analysts anticipate that DNOW will post 0.86 EPS for the current year.

Institutional Investors Weigh In On DNOW

Large investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in shares of DNOW during the fourth quarter valued at approximately $25,000. Quarry LP grew its holdings in DNOW by 712.6% in the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,703 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in DNOW by 190.5% in the 2nd 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 period. Clearstead Advisors LLC increased its position in DNOW by 132.5% in the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,383 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in 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 acquiring an additional 2,501 shares in the last quarter. Institutional investors and hedge funds 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.