Shawcor (TSE:SCL) Upgraded by ATB Capital to “Outperform”

Shawcor (TSE:SCLGet Rating) was upgraded by analysts at ATB Capital to an “outperform” rating in a research note issued to investors on Monday, Stock Target Advisor reports. The brokerage presently has a C$8.00 price objective on the stock. ATB Capital’s price target suggests a potential upside of 36.75% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. TD Securities cut shares of Shawcor from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$8.50 to C$6.00 in a research report on Friday, March 11th. Royal Bank of Canada lowered their target price on Shawcor from C$9.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Shawcor currently has an average rating of “Buy” and an average price target of C$7.58.

Shares of Shawcor stock traded up C$0.19 during trading on Monday, reaching C$5.85. The company’s stock had a trading volume of 393,106 shares, compared to its average volume of 257,037. The business’s 50-day moving average price is C$5.04 and its 200-day moving average price is C$5.21. The firm has a market cap of C$412.32 million and a PE ratio of -5.20. Shawcor has a 52 week low of C$4.24 and a 52 week high of C$6.75. The company has a quick ratio of 1.39, a current ratio of 1.89 and a debt-to-equity ratio of 53.98.

Shawcor (TSE:SCLGet Rating) last announced its earnings results on Wednesday, March 9th. The company reported C($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.10) by C$0.05. The business had revenue of C$266.38 million during the quarter, compared to the consensus estimate of C$252.13 million. Equities analysts predict that Shawcor will post 0.5 earnings per share for the current year.

Shawcor Company Profile (Get Rating)

Shawcor Ltd. operates as a material sciences company that serves the infrastructure, energy, and transportation markets worldwide. It operates through three segments: Composite Systems, Automotive and Industrial, and Pipeline and Pipe Services. The Composite Systems segment manufactures flexible composite and high density polyethylene pipes that are used for oil and gas gathering, water disposal, carbon dioxide injection pipelines, and other applications; fiberglass reinforced plastic underground storage tanks for the retail fuel, water and wastewater, and oil and gas markets; and tubular management services to the Western Canadian onshore oilfield market, including inventory management systems, mobile inspection, in-plant inspection and the refurbishment and rethreading of drill pipe, production tubing and casing, and tubular products.

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