Precision Drilling (TSE:PD) Reaches New 52-Week High – Here’s Why

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price hit a new 52-week high on Monday . The stock traded as high as C$127.52 and last traded at C$126.43, with a volume of 48514 shares trading hands. The stock had previously closed at C$121.95.

Analyst Upgrades and Downgrades

A number of research firms have commented on PD. Raymond James Financial increased their target price on Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Royal Bank Of Canada boosted their price target on Precision Drilling from C$119.00 to C$124.00 and gave the company an “outperform” rating in a report on Friday, February 13th. ATB Cormark Capital Markets set a C$120.00 price objective on Precision Drilling and gave the stock an “outperform” rating in a research note on Friday, December 19th. BMO Capital Markets lifted their price objective on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$134.29.

Precision Drilling Stock Performance

The company has a quick ratio of 1.36, a current ratio of 1.62 and a debt-to-equity ratio of 49.96. The stock has a 50 day simple moving average of C$110.43 and a 200 day simple moving average of C$92.84. The company has a market capitalization of C$1.60 billion, a price-to-earnings ratio of 886.29, a P/E/G ratio of -3.24 and a beta of 1.09.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.