DNOW Inc. (NYSE:DNOW) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

DNOW Inc. (NYSE:DNOW) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $18.20.

Several analysts recently commented on DNOW shares. Susquehanna raised their price target on shares of DNOW from $16.00 to $19.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. DA Davidson increased their target price on DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Freedom Broker downgraded DNOW from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Thursday, September 10th. Finally, Weiss Ratings upgraded shares of DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th.

Institutional Trading of DNOW

Several large investors have recently bought and sold shares of DNOW. Beacon Pointe Advisors LLC purchased a new position in shares of DNOW during the 2nd quarter worth $462,000. Bank of America Corp DE bought a new stake in shares of DNOW in the second quarter worth $25,358,000. Jefferies Financial Group Inc. acquired a new position in shares of DNOW in the 2nd quarter worth approximately $2,270,000. Squarepoint Ops LLC raised its stake in DNOW by 425.4% during the second quarter. Squarepoint Ops LLC now owns 338,802 shares of the oil and gas company’s stock worth $4,394,000 after acquiring an additional 274,319 shares during the period. Finally, Jupiter Topco LLC acquired a new position in shares of DNOW during the second quarter valued at $1,629,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Price Performance

Shares of DNOW opened at $15.69 on Tuesday. DNOW has a twelve month low of $10.94 and a twelve month high of $17.26. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -14.66 and a beta of 0.89. The company has a 50 day moving average of $15.75 and a two-hundred day moving average of $14.24.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. DNOW’s revenue was up 108.1% compared to the same quarter last year. As a group, analysts predict that DNOW will post 0.34 earnings per share for the current fiscal year.

About DNOW

DNOW Inc (NYSE: DNOW) is a global distributor of products and services used in the energy and industrial sectors. The company supplies equipment and materials for upstream, midstream and downstream oil and gas operations, as well as related industrial, utility and infrastructure markets.

Its offerings include pipe, valves, fittings, flanges, and other mechanical products; production and artificial-lift equipment; electrical and instrumentation products; and maintenance, repair and operating supplies.