Calfrac Well Services (TSE:CFW) Stock Passes Above 200-Day Moving Average – Here’s Why

Calfrac Well Services Ltd. (TSE:CFW) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$3.43 and traded as high as C$4.24. Calfrac Well Services shares last traded at C$4.18, with a volume of 52,582 shares trading hands.

Analysts Set New Price Targets

Separately, ATB Capital set a C$4.25 target price on shares of Calfrac Well Services and gave the stock a “sector perform” rating in a report on Friday, December 5th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$4.00.

Calfrac Well Services Trading Up 1.5%

The company has a fifty day moving average of C$3.37 and a 200-day moving average of C$3.43. The company has a current ratio of 2.23, a quick ratio of 1.33 and a debt-to-equity ratio of 57.80. The company has a market capitalization of C$413.41 million, a price-to-earnings ratio of 17.77, a PEG ratio of -0.30 and a beta of 0.40.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings data on Friday, November 14th. The company reported C$0.05 earnings per share for the quarter. Calfrac Well Services had a return on equity of 4.42% and a net margin of 1.74%.The company had revenue of C$323.41 million for the quarter. As a group, equities research analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.