Calfrac Well Services (TSE:CFW) Reaches New 52-Week High – Should You Buy?

Shares of Calfrac Well Services Ltd. (TSE:CFW) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$7.29 and last traded at C$7.29, with a volume of 107013 shares trading hands. The stock had previously closed at C$6.89.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lowered shares of Calfrac Well Services from a “moderate buy” rating to a “hold” rating and set a C$7.50 price objective on the stock. in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Calfrac Well Services has an average rating of “Hold” and an average target price of C$7.75.

Calfrac Well Services Trading Up 5.2%

The stock has a market capitalization of C$728.42 million, a P/E ratio of 15.76, a PEG ratio of -0.30 and a beta of -0.45. The stock’s fifty day moving average price is C$6.38 and its 200 day moving average price is C$5.93. The company has a debt-to-equity ratio of 25.17, a current ratio of 1.48 and a quick ratio of 1.33.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share (EPS) for the quarter. The company had revenue of C$426.69 million during the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. Research analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Insider Buying and Selling

In other Calfrac Well Services news, insider Sime Armoyan sold 15,429,212 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$6.50, for a total transaction of C$100,289,878.00. Following the transaction, the insider directly owned 20,084,000 shares in the company, valued at C$130,546,000. This trade represents a 43.45% decrease in their position. Also, insider Alif Husein Noorani sold 7,432 shares of Calfrac Well Services stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$5.90, for a total value of C$43,848.80. Following the sale, the insider directly owned 145 shares of the company’s stock, valued at approximately C$855.50. This trade represents a 98.09% decrease in their ownership of the stock. Over the last 90 days, insiders have purchased 30,997 shares of company stock valued at $186,495 and have sold 20,456,098 shares valued at $134,044,544. 46.88% of the stock is owned by company insiders.

Calfrac Well Services Company Profile

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.