DNOW Inc. (NYSE:DNOW) Stock Has Consensus Price Target of $18.00

Key Points

• Analysts rate DNOW a “Moderate Buy” overall: Four of seven covering analysts rate it Buy, one Strong Buy, one Hold, and one Sell; the average 12-month price target is $18.
• DNOW reported quarterly EPS of $0.18, beating the $0.15 consensus, while revenue of $1.34 billion fell slightly short of estimates. Revenue rose 110.9% year over year.
• Institutional investors and hedge funds own 97.63% of DNOW shares, with several firms recently adding or initiating positions.

Shares of DNOW Inc. (NYSE:DNOW - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $18.00.

DNOW has been the topic of several recent research reports. DA Davidson raised their target price on shares of DNOW from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Wall Street Zen raised shares of DNOW from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of DNOW from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday. Susquehanna cut their price objective on shares of DNOW from $19.00 to $18.00 and set a "positive" rating on the stock in a report on Friday, November 6th. Finally, Freedom Broker upgraded shares of DNOW from a "hold" rating to a "buy" rating and set a $18.00 price objective on the stock in a report on Monday, November 9th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Beacon Pointe Advisors LLC acquired a new stake in shares of DNOW in the 2nd quarter valued at approximately $462,000. Bank of America Corp DE bought a new position in DNOW during the 2nd quarter worth approximately $25,358,000. Jefferies Financial Group Inc. acquired a new position in DNOW during the second quarter valued at approximately $2,270,000. Squarepoint Ops LLC grew its holdings in DNOW by 425.4% during the second quarter. Squarepoint Ops LLC now owns 338,802 shares of the oil and gas company's stock valued at $4,394,000 after purchasing an additional 274,319 shares during the period. Finally, Engine Capital Management LP acquired a new position in DNOW during the first quarter valued at approximately $61,525,000. Institutional investors and hedge funds own 97.63% of the company's stock.

DNOW Price Performance

DNOW stock opened at $13.89 on Friday. The business's 50-day simple moving average is $15.51 and its 200 day simple moving average is $14.10. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -11.98 and a beta of 0.95. DNOW has a 12-month low of $10.94 and a 12-month high of $17.26. The company has a quick ratio of 1.07, a current ratio of 2.08 and a debt-to-equity ratio of 0.18.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The oil and gas company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. DNOW had a positive return on equity of 3.77% and a negative net margin of 3.89%. The company's revenue was up 110.9% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts anticipate that DNOW will post 0.37 earnings per share for the current year.

About DNOW

DNOW Inc. NYSE: DNOW distributes products and provides supply-chain and related services to energy and industrial customers. Its offerings include pipe, valves, fittings, flanges, instrumentation, electrical products, and safety and maintenance supplies. The company supports customers across the energy value chain, including upstream, midstream, and downstream operations, as well as other industrial markets. Its services include procurement, inventory management, logistics, and technical support, with operations serving customers in North America and international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.