DNOW (NYSE:DNOW) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of DNOW (NYSE:DNOW) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on DNOW. Wall Street Zen raised DNOW from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. KeyCorp set a $19.00 price target on shares of DNOW in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of DNOW in a research note on Monday, December 29th. Stifel Nicolaus decreased their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday. Finally, Susquehanna upgraded shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price on the stock in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Stock Up 0.1%

DNOW stock opened at $11.87 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. DNOW has a 1-year low of $11.69 and a 1-year high of $17.48. The firm’s fifty day simple moving average is $14.50 and its 200-day simple moving average is $14.58. The company has a market capitalization of $1.25 billion, a P/E ratio of -40.91 and a beta of 0.79.

DNOW (NYSE:DNOW) last issued 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. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. The firm had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $969.50 million. During the same period in the prior year, the company posted $0.25 earnings per share. DNOW’s revenue for the quarter was up 68.0% on a year-over-year basis. Sell-side analysts forecast that DNOW will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DNOW

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in 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 worth $258,351,000 after acquiring an additional 7,762,071 shares during the period. Wellington Management Group LLP grew its position in DNOW by 187.2% in the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after purchasing an additional 7,048,382 shares during the last quarter. Boston Partners acquired a new stake in DNOW during the third quarter worth about $72,302,000. Pzena Investment Management LLC acquired a new position in DNOW in the 4th quarter valued at approximately $55,135,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of DNOW by 60.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock worth $137,466,000 after acquiring an additional 3,920,731 shares during the period. 97.63% of the stock is owned by institutional investors.

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.