NCS Multistage (NCSM) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of NCS Multistage (NASDAQ:NCSM) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded NCS Multistage from a hold rating to a buy rating in a report on Saturday, September 29th. Royal Bank of Canada reiterated a buy rating and issued a $19.00 price objective on shares of NCS Multistage in a report on Thursday, August 9th. Wells Fargo & Co upped their price objective on NCS Multistage from $18.00 to $21.00 and gave the company an outperform rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded NCS Multistage from a strong sell rating to a sell rating in a report on Tuesday, June 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $21.71.

NASDAQ NCSM traded up $0.18 on Wednesday, reaching $14.89. The company had a trading volume of 131,038 shares, compared to its average volume of 124,103. The company has a market capitalization of $741.45 million, a PE ratio of 74.45 and a beta of 0.76. The company has a current ratio of 3.74, a quick ratio of 2.73 and a debt-to-equity ratio of 0.06. NCS Multistage has a 52 week low of $12.57 and a 52 week high of $22.47.

NCS Multistage (NASDAQ:NCSM) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The company had revenue of $43.40 million during the quarter, compared to the consensus estimate of $48.65 million. NCS Multistage had a net margin of 3.16% and a return on equity of 2.80%. As a group, sell-side analysts predict that NCS Multistage will post 0.54 earnings per share for the current fiscal year.

In other NCS Multistage news, CAO Wade Bitter sold 12,750 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $16.27, for a total value of $207,442.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 13,650 shares of company stock valued at $222,083 over the last 90 days. Corporate insiders own 11.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Viking Fund Management LLC bought a new stake in shares of NCS Multistage in the third quarter worth about $165,000. JPMorgan Chase & Co. increased its holdings in shares of NCS Multistage by 54.5% in the first quarter. JPMorgan Chase & Co. now owns 12,257 shares of the company’s stock worth $184,000 after acquiring an additional 4,322 shares in the last quarter. Millennium Management LLC bought a new stake in shares of NCS Multistage in the first quarter worth about $257,000. Energy Opportunities Capital Management LLC bought a new stake in shares of NCS Multistage in the second quarter worth about $259,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of NCS Multistage in the first quarter worth about $405,000. Institutional investors own 95.80% of the company’s stock.

About NCS Multistage

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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