Atb Cap Markets Upgrades PrairieSky Royalty (TSE:PSK) to Strong-Buy

PrairieSky Royalty (TSE:PSK - Get Free Report) was upgraded by investment analysts at Atb Cap Markets from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday, Zacks.com reports.

Several other brokerages have also recently issued reports on PSK. ATB Capital upped their price target on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a research report on Friday, July 19th. Scotiabank upped their price target on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a research report on Friday, July 12th. TD Securities decreased their price target on shares of PrairieSky Royalty from C$26.00 to C$25.00 in a research report on Tuesday, October 1st. National Bankshares upped their price target on shares of PrairieSky Royalty from C$31.00 to C$33.00 in a research report on Friday, September 27th. Finally, Royal Bank of Canada raised shares of PrairieSky Royalty from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PrairieSky Royalty currently has an average rating of "Moderate Buy" and an average target price of C$30.20.

PrairieSky Royalty Price Performance

PSK stock traded down C$0.19 during trading on Tuesday, reaching C$27.85. 334,595 shares of the company were exchanged, compared to its average volume of 358,949. The company has a 50-day moving average of C$27.36 and a two-hundred day moving average of C$26.99. The company has a market capitalization of C$6.66 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 0.47 and a beta of 1.78. PrairieSky Royalty has a twelve month low of C$21.22 and a twelve month high of C$28.93. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65.

PrairieSky Royalty (TSE:PSK - Get Free Report) last released its quarterly earnings data on Monday, July 15th. The company reported C$0.25 earnings per share (EPS) for the quarter. The business had revenue of C$135.60 million during the quarter. PrairieSky Royalty had a net margin of 46.81% and a return on equity of 8.37%.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.