Brokerages Set Precision Drilling Co. (TSE:PD) Target Price at C$119.00

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS have earned a consensus recommendation of "Buy" from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$119.00.

Several research firms have recently weighed in on PD. ATB Capital lifted their price objective on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Raymond James decreased their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. CIBC dropped their price objective on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. TD Securities reduced their target price on shares of Precision Drilling from C$100.00 to C$89.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Royal Bank of Canada lowered their price target on Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th.

Precision Drilling Trading Down 8.9 %

Shares of TSE PD traded down C$5.47 during trading on Tuesday, hitting C$56.24. 469,297 shares of the company traded hands, compared to its average volume of 145,862. The firm has a market capitalization of C$800.30 million, a P/E ratio of 3.31, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The company has a 50-day moving average price of C$72.44 and a 200-day moving average price of C$82.15. Precision Drilling has a 1 year low of C$54.71 and a 1 year high of C$109.20.

Insiders Place Their Bets

In related news, Senior Officer Veronica H. Foley sold 3,393 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. 2.12% of the stock is currently owned by company insiders.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.