Calfrac Well Services (TSE:CFW) Trading 11.6% Higher – Should You Buy?

Calfrac Well Services Ltd. (TSE:CFW)’s stock price rose 11.6% during trading on Wednesday . The company traded as high as C$7.00 and last traded at C$6.91. Approximately 205,021 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 136,330 shares. The stock had previously closed at C$6.19.

Analysts Set New Price Targets

CFW has been the topic of a number of research reports. Royal Bank Of Canada lifted their price target on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets lifted their price objective on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.75.

Calfrac Well Services Price Performance

The firm has a market capitalization of C$689.24 million, a PE ratio of 14.91, a price-to-earnings-growth ratio of -0.30 and a beta of -0.44. The company has a debt-to-equity ratio of 25.17, a quick ratio of 1.33 and a current ratio of 1.48. The business’s 50 day moving average is C$5.97 and its two-hundred day moving average is C$5.15.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The firm had revenue of C$305.37 million during the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. Equities research analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tyler Dahlseide purchased 9,250 shares of Calfrac Well Services stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of C$5.83 per share, for a total transaction of C$53,927.50. Following the transaction, the insider directly owned 79,774 shares of the company’s stock, valued at approximately C$465,082.42. This trade represents a 13.12% increase in their ownership of the stock. Also, insider Alif Husein Noorani sold 7,432 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$5.90, for a total transaction of C$43,848.80. Following the transaction, the insider owned 145 shares of the company’s stock, valued at C$855.50. This trade represents a 98.09% decrease in their ownership of the stock. Over the last 90 days, insiders have bought 30,997 shares of company stock valued at $186,495 and have sold 41,132 shares valued at $262,631. Corporate insiders own 46.88% of the company’s stock.

About Calfrac Well Services

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.