ATB Capital Raises Calfrac Well Services (TSE:CFW) Price Target to C$13.00

Calfrac Well Services (TSE:CFWGet Rating) had its price objective upped by analysts at ATB Capital from C$11.50 to C$13.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. ATB Capital’s price objective suggests a potential upside of 88.95% from the stock’s previous close.

A number of other analysts have also weighed in on CFW. Stifel Nicolaus raised their price target on shares of Calfrac Well Services from C$12.00 to C$13.00 in a report on Tuesday. Raymond James raised their price target on shares of Calfrac Well Services from C$5.50 to C$10.00 and gave the company a “market perform” rating in a report on Thursday, November 3rd. Royal Bank of Canada raised their price target on shares of Calfrac Well Services from C$7.00 to C$8.00 and gave the company a “sector perform” rating in a report on Wednesday, September 14th. Atb Cap Markets raised shares of Calfrac Well Services from a “sector perform” rating to an “outperform” rating in a report on Tuesday, September 13th. Finally, Stifel Firstegy raised shares of Calfrac Well Services from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Calfrac Well Services currently has an average rating of “Hold” and an average price target of C$10.50.

Calfrac Well Services Stock Performance

Shares of Calfrac Well Services stock opened at C$6.88 on Wednesday. The company has a debt-to-equity ratio of 120.62, a current ratio of 2.07 and a quick ratio of 1.33. The firm has a market cap of C$268.73 million and a P/E ratio of -3.17. The firm has a 50 day simple moving average of C$6.29 and a 200 day simple moving average of C$5.33. Calfrac Well Services has a fifty-two week low of C$4.05 and a fifty-two week high of C$7.90.

Insiders Place Their Bets

In other news, insider Sime Armoyan sold 808,296 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of C$7.26, for a total value of C$5,865,642.41. Following the completion of the transaction, the insider now owns 10,708,200 shares of the company’s stock, valued at approximately C$77,707,265.76. In related news, Senior Officer Edward Oke sold 46,667 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of C$7.30, for a total value of C$340,669.10. Following the sale, the insider now directly owns 951 shares of the company’s stock, valued at approximately C$6,942.30. Also, insider Sime Armoyan sold 808,296 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of C$7.26, for a total transaction of C$5,865,642.41. Following the completion of the sale, the insider now directly owns 10,708,200 shares in the company, valued at C$77,707,265.76. In the last 90 days, insiders sold 1,731,492 shares of company stock valued at $10,894,870.

Calfrac Well Services Company Profile

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Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well stimulation services, as well as pressure pumping services to oil and natural gas industries.

Further Reading

Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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