Seaport Global Securities upgraded shares of NOW (NYSE:DNOW) from a neutral rating to a buy rating in a research report report published on Thursday morning, MarketBeat Ratings reports. Seaport Global Securities also issued estimates for NOW’s Q4 2018 earnings at $0.11 EPS, FY2018 earnings at $0.21 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.23 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $0.82 EPS. The analysts noted that the move was a valuation call.
A number of other research analysts have also commented on DNOW. ValuEngine lowered NOW from a sell rating to a strong sell rating in a report on Friday, February 2nd. Susquehanna Bancshares reissued a neutral rating and set a $24.00 price objective on shares of NOW in a report on Thursday, November 2nd. Stifel Nicolaus reissued a buy rating and set a $15.00 price objective (up previously from $12.50) on shares of NOW in a report on Tuesday, January 16th. Cowen lowered their price objective on NOW from $14.00 to $10.00 and set a market perform rating on the stock in a report on Thursday, November 2nd. Finally, UBS Group lowered NOW from a positive rating to a neutral rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $12.70.
NOW (DNOW) opened at $9.75 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. NOW has a 52-week low of $9.12 and a 52-week high of $20.79.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNOW. Ameriprise Financial Inc. grew its holdings in NOW by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 325,026 shares of the oil and gas company’s stock valued at $5,226,000 after buying an additional 30,581 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in NOW by 8.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 21,880 shares of the oil and gas company’s stock valued at $352,000 after buying an additional 1,700 shares during the last quarter. Northern Trust Corp grew its holdings in NOW by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,717,102 shares of the oil and gas company’s stock valued at $27,610,000 after buying an additional 15,906 shares during the last quarter. Vanguard Group Inc. grew its holdings in NOW by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after buying an additional 148,959 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in NOW by 14.0% in the 2nd quarter. Voya Investment Management LLC now owns 48,223 shares of the oil and gas company’s stock valued at $775,000 after buying an additional 5,935 shares during the last quarter.
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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.
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