NCS Multistage (NASDAQ:NCSM) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded NCS Multistage (NASDAQ:NCSM) from "hold" to "Strong-Buy", joining other firms that now leave the stock with an average rating of "Buy" (two Strong Buys, one Hold).
• NCS Multistage beat expectations for the quarter with EPS $1.60 (vs. $0.70 est.) and revenue $50.63M (vs. $43.6M est.), and the stock jumped about 13% to open near $61.62.
• The company trades at a P/E of 7.2 with a market cap around $157M and roughly 71% institutional ownership, signaling a low valuation and significant institutional interest.

NCS Multistage (NASDAQ:NCSM - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NCS Multistage in a research report on Monday, December 29th. Singular Research upgraded NCS Multistage to a "strong-buy" rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen raised NCS Multistage from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 24th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy".

NCS Multistage Stock Up 13.0%

NCSM opened at $61.62 on Monday. NCS Multistage has a one year low of $25.09 and a one year high of $61.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.91 and a current ratio of 4.27. The stock has a market capitalization of $157.13 million, a P/E ratio of 7.20 and a beta of 0.55. The business's 50-day simple moving average is $40.32 and its 200-day simple moving average is $41.19.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.70 by $0.90. NCS Multistage had a net margin of 12.93% and a return on equity of 10.32%. The firm had revenue of $50.63 million during the quarter, compared to the consensus estimate of $43.60 million.

Institutional Trading of NCS Multistage

A number of institutional investors have recently modified their holdings of the business. Tucker Asset Management LLC acquired a new position in NCS Multistage during the fourth quarter worth $34,000. PNC Financial Services Group Inc. boosted its position in shares of NCS Multistage by 342.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company's stock worth $44,000 after purchasing an additional 668 shares in the last quarter. Heron Bay Capital Management purchased a new position in shares of NCS Multistage in the 3rd quarter valued at about $222,000. NewEdge Advisors LLC increased its holdings in shares of NCS Multistage by 3,774.4% in the 2nd quarter. NewEdge Advisors LLC now owns 8,175 shares of the company's stock valued at $241,000 after purchasing an additional 7,964 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of NCS Multistage in the third quarter valued at about $296,000. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company's product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.

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