Strad Energy Services (TSE:SDY) Rating Increased to Strong-Buy at Raymond James

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Raymond James upgraded shares of Strad Energy Services (TSE:SDY) from an outperform rating to a strong-buy rating in a research report sent to investors on Friday morning, BayStreet.CA reports. Raymond James currently has C$3.00 target price on the stock, up from their prior target price of C$2.75.

Shares of Strad Energy Services stock opened at C$1.69 on Friday. Strad Energy Services has a 1 year low of C$1.13 and a 1 year high of C$1.80. The stock has a market cap of $95.93 million and a price-to-earnings ratio of -20.36. The company’s fifty day simple moving average is C$1.67. The company has a current ratio of 1.86, a quick ratio of 1.82 and a debt-to-equity ratio of 17.25.

Strad Energy Services (TSE:SDY) last announced its earnings results on Thursday, May 9th. The company reported C$0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.03. The business had revenue of C$30.88 million for the quarter, compared to analysts’ expectations of C$32.70 million. As a group, equities analysts forecast that Strad Energy Services will post 0.33 EPS for the current fiscal year.

Strad Energy Services Company Profile

Strad Energy Services Ltd. provides rental equipment and matting solutions to the oil and gas, pipeline, power transmission, and mining sectors in Canada and the United States. The company operates in two segments, Industrial Matting and Equipment Rentals. It offers tank farms, BBL tanks, BBL single wall horizontal tanks, agitator and flare tanks, floc and premix tanks, potable water storage sheds, EcoPond composites, shale bins, pipe racks and tubs, and containment systems; generators and heaters; and centrifuges, mobile centrifuge dewatering units, and linear motion drying shakers.

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