DNOW Inc. (NYSE:DNOW) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of DNOW Inc. (NYSE:DNOW) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.25.

Several equities research analysts have recently weighed in on DNOW shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Wall Street Zen raised shares of DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna boosted their price objective on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Freedom Capital raised DNOW to a “strong-buy” rating in a research report on Monday, June 22nd.

Institutional Investors Weigh In On DNOW

A number of institutional investors have recently added to or reduced their stakes in DNOW. BlackRock Inc. purchased a new position in DNOW in the second quarter valued at about $374,942,000. Vanguard Group Inc. lifted its position in shares of DNOW by 66.1% during the fourth quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after buying an additional 7,762,071 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of DNOW by 187.2% during the fourth quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock valued at $143,275,000 after buying an additional 7,048,382 shares during the last quarter. Engine Capital Management LP purchased a new stake in shares of DNOW during the first quarter valued at about $61,525,000. Finally, Boston Partners bought a new stake in shares of DNOW in the 3rd quarter valued at about $72,302,000. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

DNOW opened at $16.78 on Thursday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -15.68 and a beta of 0.82. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. DNOW has a 12-month low of $10.94 and a 12-month high of $17.26. The business’s fifty day simple moving average is $13.84 and its 200-day simple moving average is $13.39.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 108.1% on a year-over-year basis. On average, equities research analysts anticipate that DNOW will post 0.34 earnings per share for the current fiscal year.

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.