Calfrac Well Services (TSE:CFW) Rating Increased to Outperform at ATB Capital

Calfrac Well Services (TSE:CFW) was upgraded by equities research analysts at ATB Capital from a “sector perform” rating to an “outperform” rating in a report released on Tuesday,BayStreet.CA reports. The firm currently has a C$5.50 price target on the stock, up from their prior price target of C$4.50. ATB Capital’s target price indicates a potential upside of 41.75% from the stock’s current price.

Calfrac Well Services Trading Up 0.8 %

Shares of TSE CFW traded up C$0.03 during midday trading on Tuesday, reaching C$3.88. 14,704 shares of the stock were exchanged, compared to its average volume of 37,095. The stock has a 50 day moving average price of C$3.87 and a 200-day moving average price of C$4.01. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 58.76. The company has a market capitalization of C$332.90 million, a P/E ratio of 1.73, a P/E/G ratio of -0.30 and a beta of 1.65. Calfrac Well Services has a 52-week low of C$3.64 and a 52-week high of C$5.38.

Calfrac Well Services (TSE:CFW) last announced its earnings results on Wednesday, November 6th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.19 by C($0.27). The firm had revenue of C$430.11 million for the quarter, compared to analyst estimates of C$400.60 million. Calfrac Well Services had a return on equity of 22.89% and a net margin of 7.23%. Equities research analysts expect that Calfrac Well Services will post 0.3798828 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles Pellerin purchased 41,411 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of C$3.65 per share, with a total value of C$151,150.15. 46.88% of the stock is owned by corporate insiders.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well completion services for the oil and natural gas industry. The company was founded in 1999 and is headquartered in Calgary, Canada.