NCS Multistage (NCSM) Downgraded by Zacks Investment Research

NCS Multistage (NASDAQ:NCSM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

NCSM has been the subject of a number of other reports. ValuEngine upgraded shares of NCS Multistage from a “sell” rating to a “hold” rating in a report on Monday, March 11th. Piper Jaffray Companies set a $6.00 price target on shares of NCS Multistage and gave the stock a “buy” rating in a report on Wednesday. Citigroup reduced their price target on shares of NCS Multistage from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, March 12th. Finally, BidaskClub upgraded shares of NCS Multistage from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $13.42.

NASDAQ:NCSM traded down $0.13 during trading hours on Thursday, reaching $3.28. The company had a trading volume of 129,006 shares, compared to its average volume of 103,942. The company has a current ratio of 5.44, a quick ratio of 3.19 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $153.08 million, a price-to-earnings ratio of 16.40 and a beta of 1.90. NCS Multistage has a twelve month low of $3.14 and a twelve month high of $17.81.

NCS Multistage (NASDAQ:NCSM) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $52.85 million during the quarter, compared to analysts’ expectations of $54.65 million. NCS Multistage had a negative net margin of 101.98% and a negative return on equity of 1.11%. Equities analysts predict that NCS Multistage will post -0.23 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of NCS Multistage by 20.2% during the third quarter. Vanguard Group Inc. now owns 930,339 shares of the company’s stock valued at $15,360,000 after buying an additional 156,341 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NCS Multistage by 420.4% during the third quarter. Dimensional Fund Advisors LP now owns 190,817 shares of the company’s stock valued at $3,150,000 after buying an additional 154,153 shares during the last quarter. Viking Fund Management LLC grew its holdings in shares of NCS Multistage by 550.0% during the fourth quarter. Viking Fund Management LLC now owns 65,000 shares of the company’s stock valued at $331,000 after buying an additional 55,000 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of NCS Multistage by 5.6% during the first quarter. Foundry Partners LLC now owns 386,113 shares of the company’s stock valued at $2,000,000 after buying an additional 20,525 shares during the last quarter. Finally, Energy Opportunities Capital Management LLC acquired a new position in shares of NCS Multistage during the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

About NCS Multistage

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States, Canada, and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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