ATB Cormark Capital Markets Issues Positive Forecast for Trican Well Service (TSE:TCW) Stock Price

Trican Well Service (TSE:TCW) had its price objective increased by equities research analysts at ATB Cormark Capital Markets from C$8.00 to C$8.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective indicates a potential upside of 10.82% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. BMO Capital Markets raised Trican Well Service from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$7.00 to C$9.00 in a report on Tuesday. Royal Bank Of Canada upped their price objective on Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, National Bank Financial upped their price objective on Trican Well Service from C$6.50 to C$8.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$7.67.

Trican Well Service Price Performance

TCW stock traded up C$0.09 on Wednesday, reaching C$7.67. 528,015 shares of the company’s stock were exchanged, compared to its average volume of 730,595. The stock has a fifty day moving average of C$7.06 and a 200-day moving average of C$6.48. Trican Well Service has a twelve month low of C$4.22 and a twelve month high of C$7.94. The firm has a market cap of C$1.61 billion, a PE ratio of 13.46, a P/E/G ratio of 0.22 and a beta of -0.27. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 19.28.

Trican Well Service (TSE:TCW) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.14 earnings per share for the quarter. Trican Well Service had a return on equity of 19.03% and a net margin of 10.23%.The firm had revenue of C$330.27 million for the quarter.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.