ATB Capital Lowers Precision Drilling (TSE:PD) Price Target to C$113.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by stock analysts at ATB Capital from C$123.00 to C$113.00 in a research report issued on Monday, BayStreet.CA reports. ATB Capital’s price target would indicate a potential upside of 27.44% from the stock’s previous close.

A number of other analysts have also recently weighed in on PD. Royal Bank of Canada upped their price target on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Raymond James raised their price objective on Precision Drilling from C$136.00 to C$143.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. CIBC upped their target price on Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price target on shares of Precision Drilling from C$135.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, TD Securities raised their price target on shares of Precision Drilling from C$115.00 to C$140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$130.00.

Precision Drilling Stock Performance

PD traded down C$1.49 during trading on Monday, reaching C$88.67. The company’s stock had a trading volume of 38,585 shares, compared to its average volume of 82,208. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51. Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The company has a market capitalization of C$1.25 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of -3.24 and a beta of 2.80. The company’s fifty day moving average price is C$95.43 and its 200-day moving average price is C$94.62.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping the consensus estimate of C($0.85) by C$2.29. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. The firm had revenue of C$429.21 million during the quarter, compared to analysts’ expectations of C$423.50 million. On average, equities analysts forecast that Precision Drilling will post 12.8202568 earnings per share for the current fiscal year.

Insider Transactions at Precision Drilling

In related news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. In other Precision Drilling news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% of the stock is owned by insiders.

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.