Strad Energy Services (TSE: SDY) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Friday. They currently have a $3.30 target price on the stock, down from their previous target price of $5.00.

Strad Energy Services traded up 4.30% on Friday, hitting $3.15. Strad Energy Services has a 1-year low of $3.00 and a 1-year high of $5.75. The stock’s 50-day moving average is currently $3.59.

Other equities research analysts have also recently issued reports about the stock. Analysts at Global Hunter Securities initiated coverage on shares of Strad Energy Services in a research note to investors on Wednesday, December 12th. They set a “buy” rating and a $5.00 price target on the stock. Analysts at Paradigm Capital cut their price target on shares of Strad Energy Services from $6.00 to $5.50 in a research note to investors on Tuesday, December 11th. They now have a “buy” rating on the stock.

Strad Energy Services Ltd. focuses on providing drilling rental equipment and production services to the oil and natural gas industry in the Western Canada Sedimentary Basin (WCSB) and throughout the United States.

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