DNOW Inc. (NYSE:DNOW) Given Average Rating of “Moderate Buy” by Analysts

DNOW Inc. (NYSE:DNOW) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.25.

A number of equities analysts have commented on the company. Freedom Capital raised DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research report on Monday, August 24th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, DA Davidson raised their price objective on DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 10th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of DNOW in the second quarter valued at approximately $374,942,000. Wellington Management Group LLP lifted its position in DNOW by 15.6% during the second quarter. Wellington Management Group LLP now owns 19,513,068 shares of the oil and gas company’s stock worth $253,084,000 after buying an additional 2,633,894 shares in the last quarter. Vanguard Group Inc. boosted its stake in DNOW by 66.1% during the fourth quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after buying an additional 7,762,071 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in DNOW by 60.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock worth $137,466,000 after buying an additional 3,920,731 shares during the last quarter. Finally, Boston Partners boosted its stake in DNOW by 66.0% during the fourth quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock worth $104,171,000 after buying an additional 3,124,280 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

Shares of NYSE DNOW opened at $16.12 on Monday. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -15.07 and a beta of 0.87. The company’s 50-day simple moving average is $14.65 and its 200-day simple moving average is $13.40. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. DNOW has a 52-week low of $10.94 and a 52-week high of $17.26.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 108.1% on a year-over-year basis. Equities analysts predict that DNOW will post 0.34 EPS for the current fiscal year.

About DNOW

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.