Royal Bank of Canada Lowers Calfrac Well Services (TSE:CFW) Price Target to C$4.50

Calfrac Well Services (TSE:CFW) had its price objective lowered by equities researchers at Royal Bank of Canada from C$5.00 to C$4.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 21.29% from the company’s previous close.

Other equities research analysts have also issued reports about the company. ATB Capital upgraded Calfrac Well Services from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Atb Cap Markets upgraded Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$4.83.

Calfrac Well Services Price Performance

TSE CFW traded up C$0.20 during trading hours on Friday, reaching C$3.71. The company’s stock had a trading volume of 569,200 shares, compared to its average volume of 64,586. The firm has a market capitalization of C$317.84 million, a price-to-earnings ratio of 11.33, a P/E/G ratio of -0.30 and a beta of 1.65. Calfrac Well Services has a 1-year low of C$3.45 and a 1-year high of C$4.85. The company has a debt-to-equity ratio of 57.80, a current ratio of 2.23 and a quick ratio of 1.33. The company’s 50-day moving average is C$3.83 and its two-hundred day moving average is C$3.86.

Insider Buying and Selling

In related news, Director Charles Pellerin purchased 336,800 shares of Calfrac Well Services stock in a transaction dated Monday, February 24th. The stock was bought at an average cost of C$3.95 per share, for a total transaction of C$1,330,360.00. Insiders have purchased a total of 663,200 shares of company stock valued at $2,587,381 over the last quarter. 46.88% of the stock is currently owned by insiders.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.