Calfrac Well Services (TSE:CFW) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Calfrac Well Services (TSE:CFW) had its target price raised by analysts at ATB Cormark Capital Markets from C$7.25 to C$7.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 33.93% from the company’s current price.

Separately, Royal Bank Of Canada raised their target price on Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Calfrac Well Services presently has an average rating of “Moderate Buy” and a consensus price target of C$7.75.

Calfrac Well Services Stock Performance

Shares of TSE CFW traded up C$0.04 during midday trading on Wednesday, hitting C$5.60. 198,597 shares of the stock traded hands, compared to its average volume of 136,836. The firm has a 50-day moving average of C$5.74 and a two-hundred day moving average of C$4.72. The firm has a market capitalization of C$562.14 million, a P/E ratio of 16.47, a PEG ratio of -0.30 and a beta of -0.21. The company has a debt-to-equity ratio of 33.41, a quick ratio of 1.33 and a current ratio of 1.77. Calfrac Well Services has a one year low of C$3.02 and a one year high of C$6.80.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%.The firm had revenue of C$305.37 million for the quarter. On average, equities analysts forecast that Calfrac Well Services will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mark Ryan Ellingson sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 683 shares of the company’s stock, valued at approximately C$4,535.12. This trade represents a 96.70% decrease in their position. Corporate insiders own 46.88% of the company’s stock.

Calfrac Well Services Company Profile

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.