Precision Drilling (TSE:PD) Given New C$123.00 Price Target at ATB Capital

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price raised by equities research analysts at ATB Capital from C$120.00 to C$123.00 in a report issued on Thursday, BayStreet.CA reports. ATB Capital’s price target would indicate a potential upside of 18.84% from the stock’s current price.

A number of other brokerages have also issued reports on PD. CIBC raised their target price on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James increased their price target on Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. BMO Capital Markets lifted their target price on shares of Precision Drilling from C$135.00 to C$140.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Precision Drilling currently has an average rating of “Buy” and a consensus target price of C$131.00.

Precision Drilling Stock Performance

Shares of Precision Drilling stock traded down C$2.72 on Thursday, hitting C$103.50. The stock had a trading volume of 66,659 shares, compared to its average volume of 83,610. The stock has a market cap of C$1.50 billion, a price-to-earnings ratio of 6.27, a P/E/G ratio of -3.24 and a beta of 2.90. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 62.02. Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The company’s 50 day moving average price is C$96.42 and its 200 day moving average price is C$91.62.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.