Precision Drilling (TSE:PD) Given New C$115.00 Price Target at CIBC

Precision Drilling (TSE:PD - Free Report) NYSE: PDS had its price objective trimmed by CIBC from C$125.00 to C$115.00 in a report released on Friday,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. TD Securities downgraded shares of Precision Drilling from a "buy" rating to a "hold" rating and lowered their price objective for the company from C$120.00 to C$100.00 in a research report on Monday, February 3rd. Raymond James lowered their price target on Precision Drilling from C$146.00 to C$141.00 in a report on Friday. ATB Capital upped their price objective on Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada decreased their target price on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$119.00.

Precision Drilling Price Performance

PD stock traded up C$0.52 during mid-day trading on Friday, hitting C$77.99. The stock had a trading volume of 171,351 shares, compared to its average volume of 115,955. The firm has a fifty day simple moving average of C$86.77 and a 200 day simple moving average of C$88.93. Precision Drilling has a 52 week low of C$76.50 and a 52 week high of C$109.20. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The firm has a market capitalization of C$1.11 billion, a P/E ratio of 4.59, a P/E/G ratio of -3.24 and a beta of 2.76.

Precision Drilling Company Profile

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.