Brokerages Set NOW Inc. (NYSE:DNOW) Price Target at $20.11

Shares of NOW Inc. (NYSE:DNOW) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.00.

A number of equities research analysts recently issued reports on DNOW shares. Stifel Nicolaus reiterated a “buy” rating on shares of NOW in a report on Friday, July 14th. Seaport Global Securities raised shares of NOW from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $22.00 in a research report on Thursday, May 4th. Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, April 18th. BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Cowen and Company cut their price objective on shares of NOW from $22.00 to $19.00 and set a “market perform” rating for the company in a research report on Tuesday, April 11th.

In other news, Director James Crandell acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were purchased at an average cost of $17.53 per share, with a total value of $87,650.00. Following the completion of the purchase, the director now owns 22,562 shares of the company’s stock, valued at $395,511.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of DNOW. BlackRock Inc. raised its stake in shares of NOW by 16,819.9% in the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock worth $193,337,000 after buying an additional 11,332,262 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NOW by 9.2% in the first quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock worth $149,030,000 after buying an additional 739,256 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of NOW by 0.8% in the first quarter. First Eagle Investment Management LLC now owns 7,744,218 shares of the oil and gas company’s stock valued at $131,342,000 after buying an additional 63,267 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of NOW by 7.4% in the first quarter. Clearbridge Investments LLC now owns 6,990,717 shares of the oil and gas company’s stock valued at $118,563,000 after buying an additional 482,245 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NOW by 19.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,596,784 shares of the oil and gas company’s stock valued at $61,002,000 after buying an additional 578,414 shares during the last quarter. Institutional investors and hedge funds own 98.90% of the company’s stock.

Shares of NOW (NYSE DNOW) traded down 0.31% during midday trading on Monday, reaching $16.05. The company’s stock had a trading volume of 897,601 shares. The company’s market cap is $1.73 billion. The stock’s 50-day moving average price is $16.22 and its 200-day moving average price is $17.96. NOW has a 12-month low of $14.96 and a 12-month high of $23.53.

NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.08. The firm had revenue of $631 million during the quarter, compared to analysts’ expectations of $605.07 million. NOW had a negative net margin of 8.86% and a negative return on equity of 10.27%. NOW’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) earnings per share. On average, analysts expect that NOW will post ($0.25) EPS for the current fiscal year.

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About NOW

NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.

Analyst Recommendations for NOW (NYSE:DNOW)

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