Raymond James Financial Issues Positive Forecast for ACT Energy Technologies (TSE:ACX) Stock Price

ACT Energy Technologies (TSE:ACX) had its price target raised by Raymond James Financial from C$9.50 to C$10.50 in a research note published on Tuesday morning,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. ATB Cormark Capital Markets raised their price objective on shares of ACT Energy Technologies from C$7.25 to C$8.00 and gave the stock an “outperform” rating in a report on Tuesday. Acumen Capital boosted their target price on ACT Energy Technologies from C$7.50 to C$9.00 and gave the stock a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ACT Energy Technologies presently has a consensus rating of “Buy” and a consensus target price of C$9.17.

ACT Energy Technologies Stock Up 1.9%

TSE:ACX opened at C$6.80 on Tuesday. The firm has a market cap of C$227.53 million, a PE ratio of 9.44 and a beta of 0.89. ACT Energy Technologies has a 12 month low of C$4.23 and a 12 month high of C$6.92. The company’s 50-day moving average price is C$5.83 and its two-hundred day moving average price is C$5.33.

Trending Headlines about ACT Energy Technologies

Here are the key news stories impacting ACT Energy Technologies this week:

• Positive Sentiment: Announced purchase of SB Directional Services’ U.S. directional drilling business for US$47 million to accelerate U.S. expansion and add drilling services capabilities; the deal is the primary corporate catalyst driving the move higher. MarketWatch: ACT Energy Technologies Agrees to Acquire Directional Drilling Business of SB Directional Services for $47M Yahoo Finance: ACT ENERGY TECHNOLOGIES ACCELERATES U.S. GROWTH WITH ACQUISITION OF SB DIRECTIONAL SERVICES
• Positive Sentiment: ATB Cormark raised its price target to C$8.00 and maintained an “outperform” rating, signaling dealer-level confidence and adding upward analyst momentum. BayStreet.CA: Analyst Ratings TickerReport: ATB Cormark target raise
• Positive Sentiment: Acumen Capital boosted its target to C$9.00 and reiterated a “buy” view, increasing implied upside and reinforcing buy-side interest. BayStreet.CA: Analyst Ratings
• Positive Sentiment: Raymond James raised its target to C$10.50 with an “outperform” rating, the most bullish of the recent updates and likely to attract institutional attention. BayStreet.CA: Analyst Ratings
• Neutral Sentiment: Market activity shows heavier-than-normal volume and the stock is trading above its 50- and 200-day moving averages; fundamentals still show a modest P/E and room for multiple re-rating if acquisition integration proves successful.

ACT Energy Technologies Company Profile

ACT Energy Technologies Ltd. is based in Calgary, Alberta, Canada. We operate in Canada and in the United States as Altitude Energy Partners, and in the U.S. under Discovery Downhole Services and Rime Downhole Technologies.