Raymond James Issues Pessimistic Forecast for STEP Energy Services (TSE:STEP) Stock Price

STEP Energy Services (TSE:STEP) had its price objective cut by research analysts at Raymond James from C$6.25 to C$6.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 43.54% from the stock’s previous close.

STEP has been the topic of a number of other research reports. BMO Capital Markets upped their price objective on shares of STEP Energy Services from C$4.50 to C$5.00 in a report on Tuesday, November 5th. Acumen Capital set a C$5.25 price target on STEP Energy Services in a research note on Friday, October 11th.

STEP Energy Services Stock Performance

Shares of STEP Energy Services stock opened at C$4.18 on Friday. STEP Energy Services has a 12 month low of C$3.37 and a 12 month high of C$5.26. The firm has a market capitalization of C$299.62 million, a P/E ratio of 4.64 and a beta of 2.07. The company has a current ratio of 1.47, a quick ratio of 1.11 and a debt-to-equity ratio of 25.45. The business has a fifty day simple moving average of C$4.55 and a two-hundred day simple moving average of C$4.23.

About STEP Energy Services

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.