Trican Well Service (TSE:TCW) Hits New 12-Month Low on Analyst Downgrade

Trican Well Service Ltd (TSE:TCW) reached a new 52-week low on Thursday after National Bank Financial lowered their price target on the stock from C$2.00 to C$1.70. National Bank Financial currently has an outperform rating on the stock. Trican Well Service traded as low as C$0.81 and last traded at C$0.84, with a volume of 315281 shares changing hands. The stock had previously closed at C$0.84.

Several other equities analysts also recently weighed in on the company. CIBC downgraded Trican Well Service from an “outperform” rating to a “neutral” rating and cut their target price for the company from C$2.00 to C$1.50 in a research report on Thursday, July 18th. Raymond James downgraded Trican Well Service from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from C$3.00 to C$2.25 in a research report on Friday, August 2nd. AltaCorp Capital reaffirmed an “outperform” rating on shares of Trican Well Service in a research report on Thursday, June 20th. Canaccord Genuity cut their price objective on Trican Well Service from C$1.55 to C$1.20 in a research report on Tuesday, July 9th. Finally, TD Securities cut their price objective on Trican Well Service from C$1.40 to C$1.25 and set a “hold” rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Trican Well Service currently has an average rating of “Hold” and an average price target of C$1.51.

The company has a current ratio of 1.78, a quick ratio of 1.35 and a debt-to-equity ratio of 4.46. The business has a 50-day moving average price of C$1.00 and a 200-day moving average price of C$1.27. The firm has a market cap of $251.66 million and a P/E ratio of -1.33.

About Trican Well Service (TSE:TCW)

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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