DNOW (NYSE:DNOW) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of DNOW (NYSE:DNOW) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on DNOW. Stifel Nicolaus dropped their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. KeyCorp set a $19.00 target price on shares of DNOW in a report on Thursday, December 18th. Weiss Ratings downgraded shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Finally, Wall Street Zen cut shares of DNOW from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.00.

DNOW Stock Up 1.4%

DNOW stock opened at $12.15 on Tuesday. The company has a 50 day moving average of $13.73 and a 200-day moving average of $14.06. The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.18. DNOW has a twelve month low of $10.94 and a twelve month high of $17.48. The stock has a market capitalization of $2.26 billion, a PE ratio of -41.91 and a beta of 0.79.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DNOW. Blue Trust Inc. bought a new stake in shares of DNOW during the fourth quarter worth approximately $25,000. Quarry LP increased its position in DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,703 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,589 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of DNOW by 132.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,383 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of DNOW by 2,101.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 2,501 shares in the last quarter. 97.63% of the stock is 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.