Precision Drilling (TSE:PD) Price Target Lowered to C$84.00 at ATB Capital

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price cut by equities researchers at ATB Capital from C$87.00 to C$84.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price target points to a potential upside of 22.45% from the company’s current price.

A number of other research analysts have also recently commented on the company. BMO Capital Markets decreased their price target on Precision Drilling from C$100.00 to C$90.00 in a research report on Thursday, April 17th. TD Securities reduced their price objective on shares of Precision Drilling from C$89.00 to C$69.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. CIBC dropped their target price on shares of Precision Drilling from C$115.00 to C$95.00 in a research report on Thursday, April 10th. Raymond James Financial downgraded shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from C$141.00 to C$124.00 in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada reduced their price target on shares of Precision Drilling from C$110.00 to C$89.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$93.00.

Precision Drilling Price Performance

Precision Drilling stock opened at C$68.60 on Wednesday. The firm has a market cap of C$976.18 million, a PE ratio of 4.04, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock’s fifty day moving average price is C$62.66 and its two-hundred day moving average price is C$70.91. Precision Drilling has a one year low of C$51.38 and a one year high of C$109.20.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.