DNOW's (DNOW) "Buy" Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reaffirmed a "buy" rating for DNOW with a target price of $18.00, indicating a potential 31.77% upside. Other firms have mixed ratings: Susquehanna upgraded to "positive" with a $16.00 target, while Zacks downgraded to "hold." DNOW's stock rose 2.3% to $13.66. The company reported better-than-expected quarterly earnings and revenue growth. Institutional investors hold 97.63% of DNOW's stock.
DNOW (NYSE:DNOW - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Stifel Nicolaus in a note issued to investors on Monday,Benzinga reports. They presently have a $18.00 target price on the oil and gas company's stock. Stifel Nicolaus' target price suggests a potential upside of 31.77% from the company's current price.
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Several other research firms have also recently commented on DNOW. Susquehanna raised shares of DNOW from a "neutral" rating to a "positive" rating and set a $16.00 target price on the stock in a research note on Friday. Weiss Ratings reiterated a "hold (c+)" rating on shares of DNOW in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded DNOW from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.
Check Out Our Latest Stock Analysis on DNOW
DNOW Stock Up 2.3%
DNOW stock traded up $0.31 during mid-day trading on Monday, hitting $13.66. 750,692 shares of the company's stock traded hands, compared to its average volume of 1,318,298. DNOW has a one year low of $12.01 and a one year high of $18.45. The firm has a 50 day moving average price of $14.46 and a 200 day moving average price of $14.80. The company has a market cap of $1.43 billion, a PE ratio of 15.71 and a beta of 1.01.
DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The company had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. During the same period last year, the company earned $0.21 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts expect that DNOW will post 0.86 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in DNOW. Brooklyn Investment Group boosted its stake in shares of DNOW by 2,650.0% during the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 1,643 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 1,589 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of DNOW by 2,101.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 2,501 shares during the period. Headlands Technologies LLC increased its stake in DNOW by 21,663.6% in the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company's stock worth $41,000 after purchasing an additional 2,383 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in DNOW in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 97.63% of the company's stock.
DNOW Company Profile
(Get Free Report)DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.
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