Brokerages Set Newpark Resources Inc (NR) PT at $22.79

Brokerages Set Newpark Resources Inc (NR) PT at $22.79

Shares of Newpark Resources Inc (NYSE:NR) have been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the stock. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.79.

A number of equities research analysts have recently weighed in on the stock. Loop Capital raised shares of Newpark Resources from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.00 to $11.00 in a research note on Thursday, January 5th. TheStreet raised shares of Newpark Resources from a “d” rating to a “c-” rating in a research note on Thursday, February 9th. Evercore ISI assumed coverage on shares of Newpark Resources in a research note on Tuesday, January 10th. They set a “buy” rating and a $10.00 price objective on the stock. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Tuesday, January 24th. Finally, Cowen and Company lowered shares of Newpark Resources from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $7.50 to $8.00 in a research note on Thursday, January 19th.

Shares of Newpark Resources (NYSE:NR) opened at 7.60 on Thursday. The company has a 50 day moving average of $7.57 and a 200-day moving average of $7.37. The firm’s market cap is $644.07 million. Newpark Resources has a 12-month low of $3.74 and a 12-month high of $8.75.

Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, February 9th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $137.10 million for the quarter, compared to analyst estimates of $116.77 million. Newpark Resources had a negative net margin of 8.63% and a negative return on equity of 6.78%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.00) EPS. Analysts predict that Newpark Resources will post $0.01 EPS for the current year.

Large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its stake in Newpark Resources by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 18,720 shares of the company’s stock valued at $138,000 after buying an additional 330 shares during the last quarter. Teachers Advisors LLC raised its stake in Newpark Resources by 664.9% in the third quarter. Teachers Advisors LLC now owns 1,058,054 shares of the company’s stock valued at $7,787,000 after buying an additional 919,729 shares during the last quarter. BlackRock Fund Advisors raised its stake in Newpark Resources by 7.5% in the third quarter. BlackRock Fund Advisors now owns 6,422,734 shares of the company’s stock valued at $47,271,000 after buying an additional 446,895 shares during the last quarter. BlackRock Investment Management LLC raised its stake in Newpark Resources by 2.6% in the third quarter. BlackRock Investment Management LLC now owns 395,033 shares of the company’s stock valued at $2,907,000 after buying an additional 9,915 shares during the last quarter. Finally, Heartland Advisors Inc. raised its stake in Newpark Resources by 18.5% in the third quarter. Heartland Advisors Inc. now owns 999,426 shares of the company’s stock valued at $7,356,000 after buying an additional 155,879 shares during the last quarter. 95.89% of the stock is currently owned by institutional investors and hedge funds.

Newpark Resources Company Profile

Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.

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