Trican Well Service (TSE:TCW) Price Target Cut to C$1.00 by Analysts at TD Securities

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Trican Well Service (TSE:TCW) had its price objective reduced by investment analysts at TD Securities from C$1.10 to C$1.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ target price indicates a potential upside of 19.05% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. CIBC cut their price target on Trican Well Service from C$1.50 to C$1.25 in a report on Tuesday, October 15th. BMO Capital Markets cut their price target on Trican Well Service from C$1.75 to C$1.00 in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on Trican Well Service from C$2.00 to C$1.25 and set a “sector perform” rating for the company in a report on Monday, October 21st. National Bank Financial cut their price target on Trican Well Service from C$1.70 to C$1.50 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Canaccord Genuity cut their price target on Trican Well Service from C$1.20 to C$1.00 in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Trican Well Service has a consensus rating of “Hold” and a consensus price target of C$1.30.

TSE TCW traded down C$0.03 during trading on Friday, hitting C$0.84. 858,791 shares of the stock traded hands, compared to its average volume of 1,013,715. The company has a market capitalization of $247.41 million and a P/E ratio of -1.22. The firm has a 50-day simple moving average of C$0.95 and a 200-day simple moving average of C$1.10. The company has a quick ratio of 1.35, a current ratio of 1.78 and a debt-to-equity ratio of 4.46. Trican Well Service has a 12-month low of C$0.81 and a 12-month high of C$1.73.

In related news, insider Sime Armoyan bought 97,500 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of C$0.93 per share, for a total transaction of C$90,675.00. Following the acquisition, the insider now owns 30,097,500 shares in the company, valued at C$27,990,675.

Trican Well Service Company Profile

Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.

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Analyst Recommendations for Trican Well Service (TSE:TCW)

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