Zacks Investment Research downgraded shares of NOW (NYSE:DNOW) from a buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “

Other analysts also recently issued reports about the company. Stifel Nicolaus set a $113.00 price objective on Neurocrine Biosciences and gave the company a buy rating in a research report on Monday, July 15th. ValuEngine upgraded Vale from a sell rating to a hold rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. NOW currently has an average rating of Hold and a consensus price target of $15.60.

Shares of NYSE:DNOW opened at $12.04 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.64 and a quick ratio of 1.30. NOW has a 52-week low of $10.36 and a 52-week high of $18.56. The firm has a fifty day moving average of $13.74. The stock has a market capitalization of $1.31 billion, a P/E ratio of 33.44 and a beta of 1.45.

NOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. NOW had a return on equity of 4.19% and a net margin of 2.16%. The business had revenue of $785.00 million for the quarter, compared to the consensus estimate of $772.54 million. During the same period in the prior year, the business earned $0.01 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts forecast that NOW will post 0.43 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. SeaBridge Investment Advisors LLC increased its stake in NOW by 1.3% in the first quarter. SeaBridge Investment Advisors LLC now owns 54,190 shares of the oil and gas company’s stock valued at $756,000 after purchasing an additional 690 shares during the last quarter. FMR LLC increased its stake in NOW by 54.3% in the fourth quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 774 shares during the last quarter. Mason Street Advisors LLC increased its stake in NOW by 1.5% in the first quarter. Mason Street Advisors LLC now owns 57,665 shares of the oil and gas company’s stock valued at $805,000 after purchasing an additional 873 shares during the last quarter. Investors Research Corp increased its stake in NOW by 61.6% in the second quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 900 shares during the last quarter. Finally, CWM Advisors LLC increased its stake in NOW by 8.2% in the second quarter. CWM Advisors LLC now owns 12,075 shares of the oil and gas company’s stock valued at $178,000 after purchasing an additional 915 shares during the last quarter.

About NOW

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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