STEP Energy Services (STEP) Price Target Cut to C$10.00 by Analysts at CIBC

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STEP Energy Services (TSE:STEP) had its price target lowered by CIBC from C$12.00 to C$10.00 in a research note released on Friday.

Several other analysts have also weighed in on the company. National Bank Financial decreased their price target on STEP Energy Services from C$12.00 to C$11.00 and set an outperform rating on the stock in a report on Thursday. Industrial Alliance Securities decreased their price target on STEP Energy Services from C$16.25 to C$11.00 in a report on Tuesday, October 9th. Raymond James lowered STEP Energy Services from a strong-buy rating to an outperform rating and decreased their price target for the company from C$18.00 to C$15.00 in a report on Friday, September 21st. Royal Bank of Canada reduced their target price on STEP Energy Services from C$17.00 to C$15.00 and set an outperform rating on the stock in a research note on Friday, August 3rd. Finally, TD Securities reduced their target price on STEP Energy Services from C$14.50 to C$13.50 and set a buy rating on the stock in a research note on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of C$9.28.

TSE:STEP traded down C$0.48 during midday trading on Friday, hitting C$2.85. 1,217,400 shares of the company traded hands, compared to its average volume of 176,242. STEP Energy Services has a 12-month low of C$2.80 and a 12-month high of C$13.65. The company has a debt-to-equity ratio of 57.81, a quick ratio of 1.47 and a current ratio of 1.77.

In other STEP Energy Services news, insider David Todd Johnson bought 3,800 shares of STEP Energy Services stock in a transaction on Wednesday, August 15th. The shares were acquired at an average price of C$7.78 per share, for a total transaction of C$29,564.00.

About STEP Energy Services

STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It 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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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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