JPMorgan Chase & Co. Cuts NOW (DNOW) Price Target to $11.00
NOW (NYSE:DNOW) had its price target lowered by analysts at JPMorgan Chase & Co. from $12.00 to $11.00 in a note issued to investors on Thursday. The firm presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 11.90% from the stock’s current price.
Several other analysts have also commented on the company. KeyCorp dropped their target price on NOW from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their target price on NOW from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday. Cowen dropped their target price on NOW from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday. Seaport Global Securities raised NOW from a “neutral” rating to a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Finally, ValuEngine lowered NOW from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. NOW currently has a consensus rating of “Hold” and an average price target of $15.10.
Shares of NOW (DNOW) traded up $0.03 during trading hours on Thursday, hitting $9.83. The stock had a trading volume of 561,345 shares, compared to its average volume of 1,556,575. NOW has a 1 year low of $9.12 and a 1 year high of $21.32. The stock has a market capitalization of $1,051.08, a PE ratio of -8.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 2.72.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shell Asset Management Co. purchased a new position in shares of NOW in the third quarter valued at approximately $137,000. HighTower Advisors LLC purchased a new position in shares of NOW in the second quarter valued at approximately $170,000. ETRADE Capital Management LLC purchased a new position in shares of NOW in the third quarter valued at approximately $165,000. Jane Street Group LLC purchased a new position in shares of NOW in the fourth quarter valued at approximately $133,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of NOW in the third quarter valued at approximately $176,000.
NOW Company Profile
NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
Receive News & Ratings for NOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW and related companies with MarketBeat.com's FREE daily email newsletter.