Raymond James Lowers STEP Energy Services (TSE:STEP) Price Target to C$5.50

STEP Energy Services (TSE:STEP) had its price target cut by analysts at Raymond James from C$5.75 to C$5.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 30.64% from the company’s previous close.

A number of other research firms have also issued reports on STEP. Cormark raised shares of STEP Energy Services from a “tender” rating to a “buy” rating and increased their price target for the company from C$5.00 to C$5.50 in a report on Monday, January 6th. ATB Capital reduced their price target on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Monday, December 23rd.

STEP Energy Services Stock Performance

Shares of STEP opened at C$4.21 on Thursday. The company’s fifty day moving average is C$4.40 and its 200-day moving average is C$4.33. STEP Energy Services has a 12 month low of C$3.39 and a 12 month high of C$5.26. The firm has a market cap of C$301.25 million, a price-to-earnings ratio of 7.29 and a beta of 2.07. The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 22.04.

Insider Activity at STEP Energy Services

In other STEP Energy Services news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$4.20, for a total value of C$75,604.20. 0.50% of the stock is currently owned by insiders.

STEP Energy Services Company Profile

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.