Raymond James cut shares of Calfrac Well Services (TSE:CFW) from a strong-buy rating to an outperform rating in a report issued on Friday morning, BayStreet.CA reports. They currently have C$4.00 price objective on the stock, down from their prior price objective of C$7.50.
A number of other equities research analysts also recently issued reports on the company. AltaCorp Capital downgraded Calfrac Well Services from a sector perform rating to an underperform rating in a research note on Monday, July 8th. TD Securities cut their price target on Calfrac Well Services from C$4.25 to C$3.75 and set a hold rating for the company in a research note on Thursday, May 2nd. Royal Bank of Canada cut their price target on Calfrac Well Services from C$10.00 to C$6.00 and set an outperform rating for the company in a research note on Thursday, July 18th. Cormark cut their price target on Calfrac Well Services from C$7.00 to C$4.25 in a research note on Wednesday, May 8th. Finally, Canaccord Genuity cut their price target on Calfrac Well Services from C$2.60 to C$2.20 in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$3.68.
Calfrac Well Services stock opened at C$1.70 on Friday. The company’s 50-day moving average price is C$1.97. The company has a market cap of $147.86 million and a P/E ratio of -4.21. Calfrac Well Services has a 52-week low of C$1.65 and a 52-week high of C$5.64. The company has a current ratio of 2.10, a quick ratio of 1.48 and a debt-to-equity ratio of 205.83.
Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, the Russian Federation, Mexico, and Argentina. The company offers hydraulic fracturing, coiled tubing, cementing, other well stimulation, and pressure pumping services to oil and natural gas industries.
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