Royal Bank of Canada Issues Pessimistic Forecast for Calfrac Well Services (TSE:CFW) Stock Price

Calfrac Well Services (TSE:CFW) had its target price lowered by research analysts at Royal Bank of Canada from C$5.00 to C$4.50 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 21.95% from the company’s current price.

A number of other equities analysts have also weighed in on CFW. ATB Capital upgraded shares of Calfrac Well Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Atb Cap Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

Calfrac Well Services Stock Performance

TSE:CFW opened at C$3.69 on Friday. The firm’s fifty day moving average price is C$3.83 and its 200 day moving average price is C$3.86. Calfrac Well Services has a 1-year low of C$3.45 and a 1-year high of C$4.85. The company has a debt-to-equity ratio of 57.80, a current ratio of 2.23 and a quick ratio of 1.33. The firm has a market cap of C$316.13 million, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of -0.30 and a beta of 1.65.

Insider Activity at Calfrac Well Services

In other news, Director Charles Pellerin bought 146,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of C$3.85 per share, with a total value of C$565,180.00. In the last quarter, insiders bought 663,200 shares of company stock valued at $2,587,381. 46.88% of the stock is owned by insiders.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.