TD Securities Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its target price cut by investment analysts at TD Securities from C$89.00 to C$69.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD Securities' price target suggests a potential upside of 14.92% from the company's current price.

Several other research firms have also issued reports on PD. Raymond James lowered 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. CIBC reduced their target price on shares of Precision Drilling from C$115.00 to C$95.00 in a report on Thursday, April 10th. Finally, Royal Bank of Canada lowered their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$98.33.

Precision Drilling Stock Performance

PD traded up C$1.57 during trading on Wednesday, hitting C$60.04. The company's stock had a trading volume of 103,237 shares, compared to its average volume of 151,291. The business's 50 day simple moving average is C$66.38 and its 200-day simple moving average is C$79.73. The firm has a market cap of C$854.37 million, a PE ratio of 3.53, a P/E/G ratio of -3.24 and a beta of 2.76. Precision Drilling has a one year low of C$51.38 and a one year high of C$109.20. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98.

Insider Activity

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

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.