Precision Drilling (TSE:PD) Stock Rating Lowered by Raymond James

Precision Drilling (TSE:PD) (NYSE:PDS) was downgraded by equities researchers at Raymond James from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They currently have a C$124.00 target price on the stock, down from their previous target price of C$141.00. Raymond James’ target price indicates a potential upside of 117.20% from the stock’s current price.

Several other brokerages also recently issued reports on PD. TD Securities decreased their price target on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a report on Friday, February 14th. CIBC reduced their target price on shares of Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. ATB Capital raised their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$113.71.

Precision Drilling Stock Performance

Shares of PD opened at C$57.09 on Wednesday. The firm has a market capitalization of C$812.40 million, a P/E ratio of 3.36, a P/E/G ratio of -3.24 and a beta of 2.76. Precision Drilling has a 52 week low of C$51.38 and a 52 week high of C$109.20. The stock has a 50 day moving average price of C$69.09 and a two-hundred day moving average price of C$80.97. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54.

Insider Buying and Selling

In other Precision Drilling news, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. 2.12% of the stock is currently owned by corporate insiders.

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.