KeyBanc Sticks to Its Buy Rating for Now

By Ryan Adsit

KeyBanc analyst Steve Barger maintained a Buy rating on Now (NYSE: DNOW) today and set a price target of $18. The company’s shares closed yesterday at $9.80, close to its 52-week low of $9.12.

According to TipRanks.com, Barger is a 5-star analyst with an average return of 25.5% and a 71.6% success rate. Barger covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Federal Signal Corp, and Freightcar America.

Currently, the analyst consensus on Now is Strong Buy and the average price target is $13.25, representing a 35.2% upside.

In a report released today, Seaport Global also upgraded the stock to Buy with a $13 price target.

Based on Now’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $669 million and GAAP net loss of $3 million. In comparison, last year the company earned revenue of $538 million and had a GAAP net loss of $71 million.

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NOW, Inc. engages in the provision of energy products for industrial applications. Its global product offering includes consumable maintenance, repair and operating supplies, pipe, valves, fittings, flanges, electrical, artificial lift solutions, mill tools, safety supplies, and spare parts under the DistributionNOW and Wilson Export brands.