Calfrac Well Services (TSE:CFW) Upgraded at ATB Cormark Capital Markets

Calfrac Well Services (TSE:CFW) was upgraded by analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a C$7.00 target price on the stock, up from their prior target price of C$5.25. ATB Cormark Capital Markets’ target price suggests a potential upside of 18.64% from the company’s current price.

Calfrac Well Services Price Performance

CFW stock traded up C$0.24 during trading on Friday, reaching C$5.90. 325,018 shares of the company were exchanged, compared to its average volume of 166,408. The company has a debt-to-equity ratio of 49.44, a quick ratio of 1.33 and a current ratio of 0.93. The stock’s 50 day moving average price is C$5.26 and its 200 day moving average price is C$4.05. Calfrac Well Services has a 52-week low of C$2.98 and a 52-week high of C$5.99. The company has a market cap of C$583.52 million, a P/E ratio of 25.08, a PEG ratio of -0.30 and a beta of 0.23.

Calfrac Well Services (TSE:CFW) last issued its earnings results on Thursday, March 19th. The company reported C$0.06 earnings per share (EPS) for the quarter. Calfrac Well Services had a net margin of 1.37% and a return on equity of 3.06%. The company had revenue of C$292.18 million during the quarter. As a group, analysts predict that Calfrac Well Services will post 0.3798828 earnings per share for the current fiscal year.

About Calfrac Well Services

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.