Calfrac Well Services (TSE:CFW) Reaches New 12-Month High – Time to Buy?

Calfrac Well Services Ltd. (TSE:CFW)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$6.69 and last traded at C$6.55, with a volume of 52489 shares. The stock had previously closed at C$6.57.

Analyst Ratings Changes

CFW has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Calfrac Well Services from C$5.50 to C$7.00 and gave the company a “sector perform” rating in a research report on Monday, March 23rd. ATB Cormark Capital Markets raised shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from C$5.25 to C$7.00 in a research report on Friday, March 20th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Calfrac Well Services currently has an average rating of “Moderate Buy” and a consensus target price of C$7.00.

Calfrac Well Services Price Performance

The company has a debt-to-equity ratio of 33.41, a current ratio of 1.77 and a quick ratio of 1.33. The firm has a market cap of C$654.16 million, a price-to-earnings ratio of 19.26, a PEG ratio of -0.30 and a beta of 0.23. The stock has a 50-day moving average price of C$5.52 and a 200 day moving average price of C$4.24.

Calfrac Well Services (TSE:CFW) last announced its earnings results on Thursday, March 19th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$292.18 million during the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%. As a group, equities research analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Ryan Ellingson sold 20,000 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of C$6.64, for a total value of C$132,800.00. Following the completion of the sale, the insider directly owned 683 shares of the company’s stock, valued at approximately C$4,535.12. This represents a 96.70% decrease in their ownership of the stock. Corporate insiders own 46.88% of the company’s stock.

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.