Precision Drilling (TSE:PD) Lowered to Outperform Rating by Raymond James

Precision Drilling (TSE:PD) (NYSE:PDS) was downgraded by Raymond James from a “strong-buy” rating to an “outperform” rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$124.00 price target on the stock, down from their prior price target of C$141.00. Raymond James’ price objective points to a potential upside of 117.20% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. TD Securities dropped their price target on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a research note on Friday, February 14th. CIBC cut their price objective on Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. Finally, ATB Capital raised their price objective on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Precision Drilling presently has a consensus rating of “Moderate Buy” and an average price target of C$113.71.

Precision Drilling Stock Performance

Shares of PD opened at C$57.09 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The stock has a 50-day moving average price of C$69.09 and a 200-day moving average price of C$80.97. The company has a market cap of C$812.40 million, a PE ratio of 3.36, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. Precision Drilling has a 12-month low of C$51.38 and a 12-month high of C$109.20.

Insider Transactions at Precision Drilling

In other news, Director Carey Thomas Ford sold 5,108 shares of Precision Drilling stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$263,499.70. Insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.