DNOW (NYSE:DNOW) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of DNOW (NYSE:DNOW) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on DNOW. Weiss Ratings lowered shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Wall Street Zen downgraded shares of DNOW from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. KeyCorp set a $19.00 target price on shares of DNOW in a research report on Thursday, December 18th. Finally, Stifel Nicolaus lowered their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

DNOW Stock Performance

NYSE:DNOW opened at $12.04 on Tuesday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -41.52 and a beta of 0.79. DNOW has a 1 year low of $10.94 and a 1 year high of $17.48. The stock’s 50 day simple moving average is $13.68 and its two-hundred day simple moving average is $14.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.34 and a quick ratio of 1.11.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DNOW. Covestor Ltd raised its holdings in shares of DNOW by 15.7% in the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 626 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in DNOW by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after acquiring an additional 860 shares in the last quarter. Summit Global Investments grew its holdings in DNOW by 5.4% during the 4th quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 865 shares in the last quarter. PNC Financial Services Group Inc. increased its position in DNOW by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 892 shares during the period. Finally, Amalgamated Bank increased its position in DNOW by 3.4% during the 3rd quarter. Amalgamated Bank now owns 31,215 shares of the oil and gas company’s stock valued at $476,000 after purchasing an additional 1,040 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.