STEP Energy Services (TSE:STEP) had its target price decreased by research analysts at TD Securities from C$1.70 to C$1.40 in a report issued on Monday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 28.44% from the stock’s current price.
Several other brokerages have also recently issued reports on STEP. AltaCorp Capital reduced their price target on shares of STEP Energy Services from C$2.00 to C$1.20 in a research report on Monday. Cormark boosted their price target on shares of STEP Energy Services from C$4.00 to C$4.50 in a research report on Friday, August 9th. CIBC reduced their price target on shares of STEP Energy Services from C$5.00 to C$4.50 in a research report on Tuesday, October 15th. National Bank Financial cut shares of STEP Energy Services from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$3.00 to C$2.00 in a research report on Wednesday, October 2nd. Finally, Raymond James reiterated an “outperform” rating and set a C$2.00 price target on shares of STEP Energy Services in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$2.82.
Shares of TSE STEP traded down C$0.01 during midday trading on Monday, hitting C$1.09. 99,133 shares of the company traded hands, compared to its average volume of 161,394. STEP Energy Services has a 12-month low of C$1.04 and a 12-month high of C$2.98. The company has a debt-to-equity ratio of 60.25, a quick ratio of 1.47 and a current ratio of 1.77. The stock has a 50-day moving average price of C$1.37 and a 200 day moving average price of C$1.73. The firm has a market cap of $78.11 million and a P/E ratio of -1.30.
STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing and fracturing solutions to service oil and natural gas wells in Canada and the United States. The company applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.
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