STEP Energy Services (TSE:STEP) Stock Rating Upgraded by Cormark

STEP Energy Services (TSE:STEP) was upgraded by equities research analysts at Cormark from a “tender” rating to a “buy” rating in a report released on Monday,BayStreet.CA reports. The firm presently has a C$5.50 target price on the stock, up from their previous target price of C$5.00. Cormark’s price objective suggests a potential upside of 21.41% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. BMO Capital Markets boosted their price objective on STEP Energy Services from C$4.50 to C$5.00 in a research report on Tuesday, November 5th. ATB Capital cut their price target on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Acumen Capital set a C$5.25 price target on shares of STEP Energy Services in a research report on Friday, October 11th. Finally, Raymond James lowered their price objective on shares of STEP Energy Services from C$6.25 to C$6.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$5.21.

STEP Energy Services Price Performance

STEP Energy Services stock opened at C$4.53 on Monday. STEP Energy Services has a 52 week low of C$3.37 and a 52 week high of C$5.26. The company’s 50 day moving average price is C$4.68 and its two-hundred day moving average price is C$4.24. The stock has a market cap of C$324.71 million, a P/E ratio of 5.03 and a beta of 2.07. The company has a quick ratio of 1.11, a current ratio of 1.47 and a debt-to-equity ratio of 25.45.

Insider Buying and Selling

In other STEP Energy Services news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total transaction of C$75,604.20. 0.50% of the stock is currently owned by insiders.

About STEP Energy Services

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.