ATB Capital Forecasts Strong Price Appreciation for Precision Drilling (TSE:PD) Stock

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target upped by equities researchers at ATB Capital from C$109.00 to C$123.00 in a research report issued on Tuesday,BayStreet.CA reports. ATB Capital’s price target points to a potential upside of 42.18% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. TD Securities decreased their price objective on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. BMO Capital Markets decreased their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Finally, Raymond James cut their target price on shares of Precision Drilling from C$143.00 to C$142.00 in a research note on Tuesday, October 15th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Precision Drilling presently has an average rating of “Buy” and an average price target of C$127.11.

Precision Drilling Stock Up 1.0 %

Shares of Precision Drilling stock traded up C$0.83 on Tuesday, hitting C$86.51. The company had a trading volume of 26,933 shares, compared to its average volume of 86,153. The stock has a 50-day moving average of C$85.95 and a 200-day moving average of C$92.03. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The firm has a market capitalization of C$1.22 billion, a P/E ratio of 5.40, a P/E/G ratio of -3.24 and a beta of 2.76.

Precision Drilling Company Profile

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.