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

Calfrac Well Services (TSE:CFW) was upgraded by equities research analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a C$9.00 price objective on the stock, up from their prior price objective of C$7.50. ATB Cormark Capital Markets’ price target would suggest a potential upside of 23.29% from the company’s previous close.

Separately, Royal Bank Of Canada raised their target price on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$8.50.

Calfrac Well Services Stock Performance

CFW stock traded up C$0.41 during trading on Tuesday, reaching C$7.30. 242,674 shares of the company’s stock were exchanged, compared to its average volume of 121,244. Calfrac Well Services has a 1-year low of C$3.02 and a 1-year high of C$7.35. The firm has a market cap of C$733.45 million, a PE ratio of 15.87, a P/E/G ratio of -0.30 and a beta of -0.45. The company’s fifty day moving average price is C$6.38 and its 200-day moving average price is C$5.93. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 25.17.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%.The company had revenue of C$426.69 million for the quarter. On average, research analysts expect that Calfrac Well Services will post 0.3798828 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeffrey Irwin Ellis sold 7,000 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$6.50, for a total transaction of C$45,500.00. Following the completion of the sale, the insider directly owned 12,043 shares of the company’s stock, valued at C$78,279.50. This trade represents a 36.76% decrease in their position. Also, insider Tyler Dahlseide acquired 9,250 shares of Calfrac Well Services stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of C$5.83 per share, with a total value of C$53,927.50. Following the completion of the purchase, the insider owned 79,774 shares in the company, valued at approximately C$465,082.42. This represents a 13.12% increase in their ownership of the stock. In the last ninety days, insiders purchased 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. 46.88% of the stock is currently owned by corporate insiders.

About Calfrac Well Services

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.