Zacks Research Downgrades DNOW (NYSE:DNOW) to Hold

DNOW (NYSE:DNOW) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

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

DNOW Price Performance

DNOW stock opened at $11.87 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.34 and a quick ratio of 1.11. DNOW has a one year low of $11.69 and a one year high of $17.48. The stock has a market cap of $1.25 billion, a PE ratio of -40.91 and a beta of 0.79. The firm has a 50 day simple moving average of $14.50 and a two-hundred day simple moving average of $14.58.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $969.50 million. During the same quarter last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 68.0% on a year-over-year basis. On average, analysts predict that DNOW will post 0.86 EPS for the current fiscal year.

Institutional Trading of DNOW

A number of institutional investors have recently modified their holdings of DNOW. Blue Trust Inc. bought a new stake in shares of DNOW in the fourth quarter worth about $25,000. Quarry LP lifted its holdings in DNOW by 712.6% in 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 grew its position in shares of DNOW by 190.5% in the 2nd 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 during the last quarter. Clearstead Advisors LLC increased its stake in shares of DNOW by 132.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,383 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of DNOW by 2,101.7% during 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 currently owned by hedge funds and other 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.