DNOW Inc. (NYSE:DNOW) Stock Has Consensus Price Target of $18.20 According to Brokerages

Shares of DNOW Inc. (NYSE:DNOW) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.20.

Several equities research analysts recently weighed in on DNOW shares. Wall Street Zen upgraded DNOW from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Freedom Broker cut DNOW from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Thursday, September 10th. DA Davidson boosted their price objective on DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Susquehanna boosted their price objective on DNOW from $16.00 to $19.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th.

DNOW Stock Down 4.3%

Shares of NYSE DNOW opened at $15.40 on Tuesday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 29.82 and a beta of 0.89. DNOW has a one year low of $10.94 and a one year high of $17.26. The firm’s 50 day simple moving average is $15.77 and its two-hundred day simple moving average is $14.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06.

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

Institutional Investors Weigh In On DNOW

Several institutional investors have recently added to or reduced their stakes in DNOW. BlackRock Inc. bought a new stake in DNOW in the 2nd quarter worth $374,942,000. Wellington Management Group LLP grew its stake in shares of DNOW by 15.6% in the second quarter. Wellington Management Group LLP now owns 19,513,068 shares of the oil and gas company’s stock worth $253,084,000 after purchasing an additional 2,633,894 shares during the last quarter. Engine Capital Management LP purchased a new position in DNOW during the 1st quarter valued at about $61,525,000. First Trust Advisors LP increased its holdings in DNOW by 2,335.0% during the 1st quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company’s stock valued at $48,423,000 after purchasing an additional 3,898,758 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in DNOW during the 2nd quarter valued at about $42,540,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Company Profile

DNOW Inc (NYSE: DNOW) is a global distributor of products and services used in the energy and industrial sectors. The company supplies equipment and materials for upstream, midstream and downstream oil and gas operations, as well as related industrial, utility and infrastructure markets.

Its offerings include pipe, valves, fittings, flanges, and other mechanical products; production and artificial-lift equipment; electrical and instrumentation products; and maintenance, repair and operating supplies.