NOW Inc (DNOW) Now Covered by Stifel Nicolaus

Stock analysts at Stifel Nicolaus initiated coverage on shares of NOW Inc (NYSE:DNOW) in a report issued on Tuesday. The firm set a “buy” rating and a $21.00 price target on the oil and gas company’s stock. Stifel Nicolaus’ target price points to a potential upside of 25.52% from the stock’s previous close.

Several other equities analysts have also commented on the company. KeyCorp reaffirmed an “overweight” rating and issued a $22.00 price target on shares of NOW in a research note on Friday, May 26th. Credit Suisse Group AG decreased their price target on NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. Zacks Investment Research lowered NOW from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Stephens raised NOW from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $24.00 to $23.00 in a research note on Thursday, May 4th. Finally, Seaport Global Securities raised NOW from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $22.00 in a research note on Thursday, May 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. NOW presently has an average rating of “Buy” and an average target price of $20.50.

Analyst Recommendations for NOW (NYSE:DNOW)

Shares of NOW (DNOW) opened at 16.73 on Tuesday. The stock’s 50 day moving average price is $17.25 and its 200 day moving average price is $19.27. The company’s market capitalization is $1.80 billion. NOW has a 52-week low of $15.47 and a 52-week high of $23.53.

NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.08. NOW had a negative return on equity of 10.87% and a negative net margin of 18.62%. The business had revenue of $631 million for the quarter, compared to analyst estimates of $605.07 million. During the same quarter in the prior year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that NOW will post ($0.23) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was first posted by sleekmoney and is the property of of sleekmoney. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://sleekmoney.com/now-inc-dnow-now-covered-by-stifel-nicolaus/1890806.html.

In other news, Director James Crandell bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average price of $17.53 per share, with a total value of $87,650.00. Following the purchase, the director now owns 22,562 shares in the company, valued at $395,511.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the company. Elkfork Partners LLC purchased a new position in NOW during the fourth quarter valued at about $108,000. Ladenburg Thalmann Financial Services Inc. raised its position in NOW by 13.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,899 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 711 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in NOW during the first quarter valued at about $127,000. ETRADE Capital Management LLC purchased a new position in NOW during the third quarter valued at about $201,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in NOW by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,717 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 1,219 shares during the last quarter.

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.

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/now-inc-dnow-now-covered-by-stifel-nicolaus/1890806.html

Receive News & Ratings for NOW Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW Inc and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *