Wells Fargo & Co lowered shares of NCS Multistage (NASDAQ:NCSM) from an outperform rating to a market perform rating in a research note released on Monday morning, Marketbeat.com reports. The firm currently has $15.00 target price on the stock.

NCSM has been the topic of several other research reports. BidaskClub upgraded shares of NCS Multistage from a hold rating to a buy rating in a report on Wednesday, August 1st. Zacks Investment Research cut shares of NCS Multistage from a hold rating to a sell rating in a report on Wednesday, July 11th. ValuEngine upgraded shares of NCS Multistage from a strong sell rating to a sell rating in a report on Tuesday, June 26th. Finally, Royal Bank of Canada restated a buy rating and issued a $19.00 target price on shares of NCS Multistage in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $20.86.

NASDAQ:NCSM opened at $11.70 on Monday. NCS Multistage has a 52 week low of $11.66 and a 52 week high of $22.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.73 and a current ratio of 3.74. The company has a market cap of $568.10 million, a PE ratio of 57.50 and a beta of 0.77.

NCS Multistage (NASDAQ:NCSM) last issued its earnings results on Wednesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). NCS Multistage had a return on equity of 2.80% and a net margin of 3.16%. The company had revenue of $43.40 million during the quarter, compared to analysts’ expectations of $48.65 million. As a group, equities analysts predict that NCS Multistage will post 0.51 earnings per share for the current fiscal year.

In related news, CAO Wade Bitter sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $16.27, for a total value of $207,442.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 13,650 shares of company stock worth $222,083 in the last 90 days. 11.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of NCSM. Wells Fargo & Company MN boosted its stake in shares of NCS Multistage by 142.6% during the 1st quarter. Wells Fargo & Company MN now owns 79,646 shares of the company’s stock worth $1,194,000 after acquiring an additional 46,816 shares during the last quarter. Northern Trust Corp boosted its stake in shares of NCS Multistage by 2.9% during the 1st quarter. Northern Trust Corp now owns 126,216 shares of the company’s stock worth $1,894,000 after acquiring an additional 3,568 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NCS Multistage by 54.5% during the 1st quarter. JPMorgan Chase & Co. now owns 12,257 shares of the company’s stock worth $184,000 after acquiring an additional 4,322 shares during the last quarter. Millennium Management LLC purchased a new position in shares of NCS Multistage during the 1st quarter worth $257,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of NCS Multistage during the 1st quarter worth $405,000. Institutional investors and hedge funds own 95.82% of the company’s stock.

NCS Multistage Company Profile

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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Analyst Recommendations for NCS Multistage (NASDAQ:NCSM)

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