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

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

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

DNOW Stock Performance

Shares of DNOW opened at $11.78 on Friday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -40.61 and a beta of 0.80. DNOW has a 12 month low of $11.55 and a 12 month high of $17.48. The firm has a fifty day simple moving average of $14.38 and a 200 day simple moving average of $14.52. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $969.50 million. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. The company’s quarterly revenue was up 68.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Research analysts forecast that DNOW will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On DNOW

Several institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. bought a new stake in DNOW during the fourth quarter worth about $11,168,000. Invesco Ltd. boosted its position in shares of DNOW by 51.9% during the 4th quarter. Invesco Ltd. now owns 1,211,925 shares of the oil and gas company’s stock worth $16,058,000 after acquiring an additional 414,033 shares in the last quarter. Summit Global Investments increased its stake in DNOW by 5.4% in the fourth quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock valued at $225,000 after acquiring an additional 865 shares during the last quarter. Caitlin John LLC bought a new position in DNOW in the fourth quarter valued at approximately $274,000. Finally, Vident Advisory LLC raised its position in DNOW by 14.6% during the fourth quarter. Vident Advisory LLC now owns 42,170 shares of the oil and gas company’s stock valued at $559,000 after purchasing an additional 5,371 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

About DNOW

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.