DNOW (NYSE:DNOW) Upgraded to “Strong-Buy” at DA Davidson

DA Davidson upgraded shares of DNOW (NYSE:DNOW) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

DNOW has been the topic of a number of other research reports. Stifel Nicolaus lowered their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

DNOW Trading Down 1.9%

Shares of DNOW stock opened at $13.45 on Tuesday. DNOW has a 1 year low of $10.94 and a 1 year high of $17.26. The firm has a fifty day moving average price of $12.94 and a 200-day moving average price of $13.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -18.42 and a beta of 0.82.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.22 EPS. The company’s revenue was up 97.5% on a year-over-year basis. As a group, equities analysts predict that DNOW will post 0.31 earnings per share for the current year.

Institutional Trading of DNOW

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in DNOW by 82.5% in the 1st quarter. Bank of America Corp DE now owns 1,415,723 shares of the oil and gas company’s stock worth $16,861,000 after purchasing an additional 639,774 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in DNOW by 6.2% in the 1st quarter. Arkadios Wealth Advisors now owns 282,758 shares of the oil and gas company’s stock worth $3,368,000 after purchasing an additional 16,431 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in DNOW by 8,060.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 2,418 shares in the last quarter. Amundi lifted its stake in DNOW by 78.5% in the 1st quarter. Amundi now owns 49,511 shares of the oil and gas company’s stock worth $590,000 after purchasing an additional 21,770 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in DNOW by 25.9% in the 1st quarter. California State Teachers Retirement System now owns 223,233 shares of the oil and gas company’s stock worth $2,659,000 after purchasing an additional 45,949 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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.