Precision Drilling (TSE:PD) Downgraded by TD Securities to “Hold”

TD Securities lowered shares of Precision Drilling (TSE:PD) (NYSE:PDS) from a buy rating to a hold rating in a report issued on Monday morning,BayStreet.CA reports. TD Securities currently has C$100.00 price objective on the stock, down from their prior price objective of C$120.00.

Several other research analysts have also recently issued reports on PD. Raymond James dropped their price target on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. ATB Capital lifted their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Precision Drilling presently has an average rating of “Buy” and a consensus target price of C$128.00.

Precision Drilling Stock Performance

Shares of PD stock opened at C$80.96 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37. The business has a 50 day moving average of C$88.13 and a two-hundred day moving average of C$90.19. The company has a market cap of C$1.14 billion, a P/E ratio of 5.05, a PEG ratio of -3.24 and a beta of 2.76. Precision Drilling has a 52 week low of C$78.60 and a 52 week high of C$109.20.

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.