DNOW Inc. (NYSE:DNOW) Stock Has Consensus Target Price of $18.00

DNOW Inc. (NYSE:DNOW) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $18.00.

Several brokerages have issued reports on DNOW. Freedom Broker upgraded DNOW from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, November 9th. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. DA Davidson lifted their price objective on DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings lowered DNOW from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Susquehanna decreased their price objective on DNOW from $19.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, November 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DNOW. BlackRock Inc. acquired a new position in shares of DNOW in the second quarter valued at approximately $374,942,000. Wellington Management Group LLP increased its position in shares of DNOW by 15.6% during the second quarter. Wellington Management Group LLP now owns 19,513,068 shares of the oil and gas company’s stock worth $253,084,000 after acquiring an additional 2,633,894 shares in the last quarter. Engine Capital Management LP bought a new stake in shares of DNOW during the first quarter worth $61,525,000. First Trust Advisors LP raised its holdings in shares of DNOW by 2,335.0% during the first quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company’s stock worth $48,423,000 after acquiring an additional 3,898,758 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of DNOW during the second quarter worth $42,540,000. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

DNOW opened at $13.89 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. DNOW has a 12 month low of $10.94 and a 12 month high of $17.26. The company has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $14.10. The stock has a market cap of $2.50 billion, a P/E ratio of -11.98 and a beta of 0.95.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 5th. The oil and gas company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. DNOW had a positive return on equity of 3.77% and a negative net margin of 3.89%. The firm’s revenue was up 110.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. On average, research analysts expect that DNOW will post 0.37 EPS for the current year.

About DNOW

DNOW Inc. (NYSE: DNOW) distributes products and provides supply-chain and related services to energy and industrial customers. Its offerings include pipe, valves, fittings, flanges, instrumentation, electrical products, and safety and maintenance supplies. The company supports customers across the energy value chain, including upstream, midstream, and downstream operations, as well as other industrial markets. Its services include procurement, inventory management, logistics, and technical support, with operations serving customers in North America and international markets.