DNOW (NYSE:DNOW) Hits New 52-Week Low – Should You Sell?

DNOW Inc. (NYSE:DNOW) reached a new 52-week low during trading on Monday . The company traded as low as $11.34 and last traded at $11.8760, with a volume of 625737 shares. The stock had previously closed at $11.78.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating 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. Susquehanna upgraded 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. Weiss Ratings cut shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Two equities 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Stock Down 0.9%

The company’s 50-day moving average price is $14.38 and its 200 day moving average price is $14.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34. The stock has a market capitalization of $1.23 billion, a P/E ratio of -40.20 and a beta of 0.80.

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

Institutional Trading of DNOW

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of DNOW by 28.2% in the first quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after buying an additional 7,867 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in DNOW by 53.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock valued at $6,127,000 after buying an additional 124,797 shares during the period. Teacher Retirement System of Texas grew its holdings in DNOW by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 91,399 shares of the oil and gas company’s stock valued at $1,355,000 after purchasing an additional 2,821 shares during the period. Prospera Financial Services Inc increased its holdings in DNOW by 33.9% in the 2nd quarter. Prospera Financial Services Inc now owns 23,780 shares of the oil and gas company’s stock worth $353,000 after acquiring an additional 6,015 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of DNOW during the 2nd quarter worth about $162,000. 97.63% of the stock is currently owned by 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.