NCS Multistage (NCSM) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of NCS Multistage (NASDAQ:NCSM) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “NCS Multistage Holdings, Inc. provides engineered products and support services for oil and natural gas well completions and field development strategies primarily in the United States and internationally. NCS Multistage Holdings Inc. is headquartered in Houston, Texas. “

Several other brokerages have also commented on NCSM. BidaskClub raised NCS Multistage from a strong sell rating to a sell rating in a research note on Wednesday, June 27th. Royal Bank of Canada reaffirmed a buy rating and issued a $19.00 price target on shares of NCS Multistage in a research note on Thursday, August 9th. ValuEngine raised NCS Multistage from a strong sell rating to a sell rating in a research note on Tuesday, June 26th. Finally, Wells Fargo & Co boosted their price target on NCS Multistage from $18.00 to $21.00 and gave the company an outperform rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $21.71.

Shares of NASDAQ:NCSM traded up $0.18 during trading on Wednesday, hitting $14.89. 131,038 shares of the stock were exchanged, compared to its average volume of 124,103. NCS Multistage has a 1-year low of $12.57 and a 1-year high of $22.47. The firm has a market capitalization of $741.45 million, a PE ratio of 74.45 and a beta of 0.76. The company has a current ratio of 3.74, a quick ratio of 2.73 and a debt-to-equity ratio of 0.06.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). The firm had revenue of $43.40 million for the quarter, compared to analyst estimates of $48.65 million. NCS Multistage had a return on equity of 2.80% and a net margin of 3.16%. On average, sell-side analysts predict that NCS Multistage will post 0.54 EPS for the current year.

In related news, CAO Wade Bitter sold 12,750 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $16.27, for a total value of $207,442.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 13,650 shares of company stock worth $222,083. 11.70% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of NCSM. Wells Fargo & Company MN boosted its stake in NCS Multistage by 142.6% in the first quarter. Wells Fargo & Company MN now owns 79,646 shares of the company’s stock worth $1,194,000 after purchasing an additional 46,816 shares in the last quarter. Northern Trust Corp boosted its stake in NCS Multistage by 2.9% in the first quarter. Northern Trust Corp now owns 126,216 shares of the company’s stock worth $1,894,000 after purchasing an additional 3,568 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in NCS Multistage by 54.5% in the first quarter. JPMorgan Chase & Co. now owns 12,257 shares of the company’s stock worth $184,000 after purchasing an additional 4,322 shares in the last quarter. Millennium Management LLC acquired a new position in NCS Multistage in the first quarter worth $257,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in NCS Multistage in the first quarter worth $405,000. 95.80% of the stock is currently owned by institutional investors.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and field development strategies in the United States and internationally. The company's products include casing-installed sliding sleeves, downhole frac isolation assemblies, sand jet perforating products, spotfrac systems, ballshift sliding sleeves, airlock casing buoyancy systems, liner hanger systems, and spectrum tracer services.

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