DNOW Inc. (NYSE:DNOW) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have a consensus “Moderate Buy” rating on DNOW, with three buys, one strong buy, one hold and one sell among six covering firms. The average 12-month price target is $17.00, compared with the stock’s reported $14.22 price.
• DNOW’s latest quarterly results were mixed: revenue rose 97.5% year over year to $1.18 billion and exceeded estimates, but earnings per share came in at $0.01, below the $0.05 consensus.
• Institutional investors own 97.63% of DNOW, with several major holders increasing their positions, including Bank of America, Amundi and Arkadios Wealth Advisors.

Shares of DNOW Inc. (NYSE:DNOW - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.00.

DNOW has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of DNOW in a report on Wednesday, May 27th. Wall Street Zen lowered DNOW from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Freedom Capital upgraded DNOW to a "strong-buy" rating in a research note on Monday, June 22nd. Zacks Research raised DNOW from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Finally, DA Davidson assumed coverage on DNOW in a research report on Tuesday, June 16th. They set a "buy" rating and a $17.00 price objective on the stock.

DNOW Trading Down 1.3%

NYSE DNOW opened at $14.22 on Thursday. DNOW has a 12 month low of $10.94 and a 12 month high of $17.26. The company has a current ratio of 2.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average price is $13.50 and its 200-day moving average price is $13.31. The stock has a market cap of $2.60 billion, a P/E ratio of -19.48 and a beta of 0.82.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.22 EPS. DNOW's revenue for the quarter was up 97.5% compared to the same quarter last year. As a group, equities analysts forecast that DNOW will post 0.31 EPS for the current fiscal year.

Institutional Trading of DNOW

Large investors have recently made changes to their positions in the stock. Summit Global Investments purchased a new position in shares of DNOW during the second quarter valued at approximately $220,000. Bank of America Corp DE boosted its holdings in DNOW by 82.5% in the first quarter. Bank of America Corp DE now owns 1,415,723 shares of the oil and gas company's stock worth $16,861,000 after purchasing an additional 639,774 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in DNOW by 6.2% in the first quarter. Arkadios Wealth Advisors now owns 282,758 shares of the oil and gas company's stock worth $3,368,000 after purchasing an additional 16,431 shares during the last quarter. Sunbelt Securities Inc. grew its position in DNOW by 8,060.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 2,418 shares during the period. Finally, Amundi raised its stake in DNOW by 78.5% during the 1st quarter. Amundi now owns 49,511 shares of the oil and gas company's stock valued at $590,000 after buying an additional 21,770 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

DNOW Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source