A number of other research analysts have also recently commented on NR. Credit Suisse Group set a $8.00 target price on shares of Newpark Resources and gave the stock a buy rating in a report on Wednesday, November 30th. Loop Capital raised shares of Newpark Resources from a hold rating to a buy rating and increased their target price for the stock from $7.00 to $11.00 in a report on Thursday, January 5th. Zacks Investment Research raised shares of Newpark Resources from a hold rating to a buy rating and set a $8.50 target price for the company in a report on Tuesday, January 24th. Evercore ISI began coverage on Newpark Resources in a research note on Tuesday, January 10th. They issued a buy rating and a $10.00 price objective for the company. Finally, Cowen and Company downgraded Newpark Resources from an outperform rating to a market perform rating and upped their price objective for the company from $7.50 to $8.00 in a research note on Thursday, January 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $20.59.
Newpark Resources (NYSE:NR) opened at 8.25 on Thursday. The company’s 50-day moving average is $7.84 and its 200 day moving average is $7.30. The company’s market cap is $698.62 million. Newpark Resources has a 1-year low of $3.35 and a 1-year high of $8.75.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, February 9th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm earned $137.10 million during the quarter, compared to analysts’ expectations of $116.77 million. Newpark Resources had a negative net margin of 8.63% and a negative return on equity of 6.78%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.00) earnings per share. On average, equities analysts predict that Newpark Resources will post ($0.01) EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. purchased a new stake in Newpark Resources during the third quarter worth $3,711,000. BlackRock Investment Management LLC increased its stake in Newpark Resources by 2.6% in the third quarter. BlackRock Investment Management LLC now owns 395,033 shares of the company’s stock worth $2,907,000 after buying an additional 9,915 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock worth $104,000 after buying an additional 4,203 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Newpark Resources by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 2,565,643 shares of the company’s stock worth $18,883,000 after buying an additional 101,229 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Newpark Resources by 664.9% in the third quarter. Teachers Advisors LLC now owns 1,058,054 shares of the company’s stock worth $7,787,000 after buying an additional 919,729 shares in the last quarter. 95.89% of the stock is owned by institutional investors and hedge funds.
About Newpark Resources
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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