Precision Drilling (TSE:PD) Sets New 1-Year High – Still a Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$127.52 and last traded at C$126.43, with a volume of 48514 shares trading hands. The stock had previously closed at C$121.95.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Royal Bank Of Canada boosted their target price on shares of Precision Drilling from C$119.00 to C$124.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. ATB Cormark Capital Markets set a C$120.00 target price on shares of Precision Drilling and gave the stock an “outperform” rating in a research report on Friday, December 19th. Canadian Imperial Bank of Commerce raised their price target on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. Finally, Raymond James Financial boosted their price objective on Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$134.29.

Precision Drilling Trading Up 1.7%

The firm has a market capitalization of C$1.60 billion, a P/E ratio of 886.29, a PEG ratio of -3.24 and a beta of 1.09. The business’s 50 day moving average is C$110.43 and its two-hundred day moving average is C$92.84. The company has a quick ratio of 1.36, a current ratio of 1.62 and a debt-to-equity ratio of 49.96.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.