NOW’s (DNOW) Buy Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of NOW Inc. (NYSE:DNOW) in a research report released on Tuesday morning. They currently have a $18.00 target price on the oil and gas company’s stock.

A number of other research analysts have also commented on the stock. Robert W. Baird restated a neutral rating and issued a $15.00 price objective (down from $20.00) on shares of NOW in a research note on Monday, October 9th. Seaport Global Securities lowered shares of NOW from a buy rating to a neutral rating and dropped their price objective for the company from $22.00 to $17.00 in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of NOW from a sell rating to a hold rating in a research note on Monday, July 31st. BidaskClub lowered shares of NOW from a buy rating to a hold rating in a research note on Tuesday, July 25th. Finally, Cowen and Company set a $14.00 price objective on shares of NOW and gave the company a hold rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $17.78.

Shares of NOW (NYSE DNOW) traded up 0.39% during midday trading on Tuesday, hitting $12.73. 417,011 shares of the stock were exchanged. The company’s market cap is $1.37 billion. NOW has a 12 month low of $11.31 and a 12 month high of $23.53. The stock has a 50 day moving average price of $12.97 and a 200-day moving average price of $15.13.

NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $674.97 million. During the same period last year, the business earned ($0.40) EPS. NOW’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts predict that NOW will post ($0.26) EPS for the current year.

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Large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of NOW by 130.2% in the second quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 3,940 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of NOW in the first quarter valued at about $127,000. Riverhead Capital Management LLC boosted its holdings in shares of NOW by 70.0% in the second quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 3,290 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in shares of NOW by 18.9% in the second quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock valued at $143,000 after acquiring an additional 1,420 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of NOW in the second quarter valued at about $170,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

NOW Company Profile

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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