Pason Systems (TSE:PSI) Trading 13.7% Higher Following Analyst Upgrade

Pason Systems Inc. (TSE:PSI)’s stock price traded up 13.7% during trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$16.00 to C$17.00. Royal Bank Of Canada currently has an outperform rating on the stock. Pason Systems traded as high as C$14.61 and last traded at C$14.54. Approximately 248,570 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 241,564 shares. The stock had previously closed at C$12.79.

Other research analysts have also issued research reports about the company. TD Securities upgraded Pason Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. TD decreased their price objective on Pason Systems from C$18.00 to C$15.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$15.83.

Insider Activity

In other news, insider Bryce Mclean sold 8,410 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of C$14.50, for a total value of C$121,945.00. Following the completion of the sale, the insider owned 8,853 shares in the company, valued at approximately C$128,368.50. This trade represents a 48.72% decrease in their position. Also, insider Celine Boston sold 13,200 shares of Pason Systems stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of C$14.46, for a total transaction of C$190,872.00. Following the transaction, the insider directly owned 1,893 shares of the company’s stock, valued at approximately C$27,372.78. This represents a 87.46% decrease in their ownership of the stock. In the last ninety days, insiders sold 44,210 shares of company stock worth $640,831. Insiders own 0.13% of the company’s stock.

Pason Systems Trading Up 0.8%

The stock has a fifty day moving average of C$12.89 and a 200-day moving average of C$13.14. The company has a market cap of C$1.14 billion, a PE ratio of 23.73, a PEG ratio of 10.78 and a beta of 0.43. The company has a debt-to-equity ratio of 5.51, a quick ratio of 3.54 and a current ratio of 2.29.

Pason Systems (TSE:PSI) last released its earnings results on Tuesday, August 11th. The company reported C$0.18 earnings per share for the quarter. Pason Systems had a return on equity of 9.71% and a net margin of 11.53%.The business had revenue of C$100.78 million for the quarter. Sell-side analysts anticipate that Pason Systems Inc. will post 1.229765 EPS for the current fiscal year.

Pason Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Pason Systems’s dividend payout ratio (DPR) is currently 83.87%.

Pason Systems Company Profile

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.