NOV Inc [NOV] stock is trading at $16.75, down -0.89%. An important factor to consider is whether the stock is rising or falling in short-term value. The NOV shares have gain 4.23% over the last week, with a monthly amount drifted -4.07%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
NOV Inc [NYSE: NOV] stock has seen the most recent analyst activity on July 29, 2024, when TD Cowen reiterated its Buy rating and also boosted its price target to $28 from $27. Previously, TD Cowen reaffirmed its Buy rating on April 29, 2024, and dropped its price target to $26. On February 05, 2024, TD Cowen reiterated its Outperform rating and revised its price target to $30 on the stock. The Benchmark Company downgraded its rating to a Hold. JP Morgan upgraded its rating to a Overweight and raised its price target to $25 on December 08, 2023. Barclays downgraded its rating to Underweight for this stock on October 17, 2023, but kept the price target unchanged to $20. In a note dated July 14, 2023, CapitalOne initiated an Equal Weight rating and provided a target price of $20 on this stock.
NOV Inc [NOV] stock has fluctuated between $15.47 and $21.71 over the past year. Currently, Wall Street analysts expect the stock to reach $19.5 within the next 12 months. NOV Inc [NYSE: NOV] shares were valued at $16.75 at the most recent close of the market. An investor can expect a potential return of 16.42% based on the average NOV price forecast.
Analyzing the NOV fundamentals
NOV Inc [NYSE:NOV] reported sales of 8.89B for the trailing twelve months, which represents a growth of 6.08%. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.08%, and Net Profit Margin reading is 0.12%. To continue investigating profitability, this company’s Return on Assets is posted at 0.09, Equity is 0.17 and Total Capital is 0.1. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.29.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 16.57 points at the first support level, and at 16.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.00, and for the 2nd resistance point, it is at 17.25.
Ratios To Look Out For
For context, NOV Inc’s Current Ratio is 2.61. On the other hand, the Quick Ratio is 1.64, and the Cash Ratio is 0.37. Considering the valuation of this stock, the price to sales ratio is 0.74, the price to book ratio is 1.03 and price to earnings (TTM) ratio is 6.29.
Transactions by insiders
Recent insider trading involved Novak Christy Lynn, VP, Corp. Controller, CAO, that happened on Feb 22 ’24 when 3500.0 shares were sold.
