The stock of NOW Inc (NYSE:DNOW) hit a new 52-week high and has $32.54 target or 50.00% above today’s $21.69 share price. The 7 months bullish chart indicates low risk for the $2.35B company. The 1-year high was reported on Oct, 4 by Barchart.com. If the $32.54 price target is reached, the company will be worth $1.18B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28,462 shares traded hands. NOW Inc (NYSE:DNOW) has risen 28.71% since March 1, 2016 and is uptrending. It has outperformed by 19.47% the S&P500.
Analysts await NOW Inc (NYSE:DNOW) to report earnings on November, 1. They expect $-0.45 EPS, down 164.71% or $0.28 from last year’s $-0.17 per share. After $-0.40 actual EPS reported by NOW Inc for the previous quarter, Wall Street now forecasts 12.50% negative EPS growth.
NOW Inc (NYSE:DNOW) Ratings Coverage
Out of 7 analysts covering Now Inc (NYSE:DNOW), 0 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 0 are positive. $20 is the highest target while $12 is the lowest. The $18.20 average target is -16.09% below today’s ($21.69) stock price. Now Inc has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Stephens downgraded NOW Inc (NYSE:DNOW) rating on Thursday, August 6. Stephens has “Equal Weight” rating and $19 price target. The stock of NOW Inc (NYSE:DNOW) has “Market Perform” rating given on Friday, September 16 by Cowen & Co. On Friday, December 18 the stock rating was initiated by KeyBanc Capital Markets with “Sector Weight”. The rating was initiated by Credit Suisse with “Neutral” on Tuesday, September 15. JP Morgan maintained NOW Inc (NYSE:DNOW) rating on Wednesday, February 24. JP Morgan has “Neutral” rating and $12 price target.
According to Zacks Investment Research, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas.”
Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.08, from 1.05 in 2016Q1. The ratio worsened, as 35 funds sold all NOW Inc shares owned while 84 reduced positions. 28 funds bought stakes while 88 increased positions. They now own 105.81 million shares or 1.43% more from 104.32 million shares in 2016Q1.
Sunbelt has invested 0% of its portfolio in NOW Inc (NYSE:DNOW). Moreover, Mark Sheptoff Planning Ltd Com has 0% invested in NOW Inc (NYSE:DNOW) for 25 shares. Investmentaktiengesellschaft Fuer Langfristige Investoren Tgv accumulated 100,000 shares or 0.49% of the stock. Teachers reported 184,550 shares or 0.01% of all its holdings. Blackrock Advsr Ltd Liability has 0% invested in the company for 50,885 shares. The Connecticut-based Greenwich Wealth Mgmt Ltd Liability Co has invested 0.33% in NOW Inc (NYSE:DNOW). Great West Life Assurance Can last reported 0% of its portfolio in the stock. Next accumulated 316 shares or 0% of the stock. The United Kingdom-based Ahl Prns Limited Liability Partnership has invested 0.07% in NOW Inc (NYSE:DNOW). Lucus Advisors Llc has invested 0.29% of its portfolio in NOW Inc (NYSE:DNOW). Advantus Capital Mgmt has 0.01% invested in the company for 13,010 shares. Addison Capital accumulated 1.03% or 63,173 shares. Ameriprise has 0% invested in the company for 302,390 shares. Prudential accumulated 0% or 68,577 shares. Cornerstone Advsrs owns 32 shares or 0% of their US portfolio.
Another recent and important NOW Inc (NYSE:DNOW) news was published by Fool.com which published an article titled: “Shares of NOW Inc. Surged Ahead 15% in August — Here’s Why” on September 07, 2016.
DNOW Company Profile
NOW Inc. (NOW), incorporated on November 22, 2013, is a global distributor to energy and industrial markets. The Firm operates primarily under the DistributionNOW and Wilson Export brands. The Firm operates through three divisions: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications. The Company’s energy product offering is consumed throughout all sectors of the gas and oil industry from upstream drilling and completion, exploration and production (E&P), midstream infrastructure development to downstream petroleum refining, as well as in other industries, such as chemical processing, utilities and industrial manufacturing operations. The industrial distribution portion of its business targets a range of end markets, including manufacturing, engineering and construction and refineries. The Firm also provides supply chain management to drilling contractors, E&P operators, midstream operators and downstream energy, and industrial manufacturing companies around the world.
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