Precision Drilling (TSE:PD) Reaches New 52-Week Low - Time to Sell?

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS shares reached a new 52-week low on Wednesday . The company traded as low as C$51.38 and last traded at C$56.35, with a volume of 179102 shares traded. The stock had previously closed at C$54.17.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PD shares. Royal Bank of Canada lowered their target price on Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. Raymond James downgraded Precision Drilling from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from C$141.00 to C$124.00 in a report on Wednesday, April 9th. TD Securities dropped their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Finally, CIBC cut their target price on Precision Drilling from C$115.00 to C$95.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$113.71.

Precision Drilling Stock Performance

The company has a 50 day moving average price of C$68.61 and a 200 day moving average price of C$80.71. The company has a market capitalization of C$826.34 million, a PE ratio of 3.42, a PEG ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54.

Insider Buying and Selling at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 3,393 shares of the business's 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$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was 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 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.