Raymond James downgraded shares of Precision Drilling (TSE:PD - Free Report) NYSE: PDS from a strong-buy rating to an outperform rating in a research report report published on Wednesday morning, MarketBeat.com reports. Raymond James currently has C$124.00 target price on the stock, down from their prior target price of C$141.00.
Other analysts also recently issued research reports about the stock. ATB Capital raised their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. CIBC lowered their price target on Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. Finally, TD Securities dropped their price target on Precision Drilling from C$100.00 to C$89.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$113.71.
View Our Latest Stock Analysis on PD
Precision Drilling Stock Down 1.6 %
TSE:PD traded down C$0.95 on Wednesday, reaching C$58.07. 77,247 shares of the stock traded hands, compared to its average volume of 153,109. Precision Drilling has a 12 month low of C$51.38 and a 12 month high of C$109.20. The company has a market capitalization of C$826.34 million, a price-to-earnings ratio of 3.42, a PEG ratio of -3.24 and a beta of 2.76. The company's fifty day simple moving average is C$68.61 and its 200 day simple moving average is C$80.71. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98.
Insider Transactions at Precision Drilling
In other Precision Drilling news, Senior Officer Veronica H. Foley sold 3,393 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. 2.12% of the stock is currently owned by company insiders.
About Precision Drilling
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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.
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