Calfrac Well Services (TSE:CFW) Sets New 1-Year High After Analyst Upgrade

Calfrac Well Services Ltd. (TSE:CFW) hit a new 52-week high during trading on Friday after ATB Cormark Capital Markets upgraded the stock from a sector perform rating to an outperform rating. ATB Cormark Capital Markets now has a C$7.00 price target on the stock, up from their previous price target of C$5.25. Calfrac Well Services traded as high as C$5.94 and last traded at C$5.79, with a volume of 265453 shares. The stock had previously closed at C$5.66.

Calfrac Well Services Trading Up 4.9%

The stock’s 50 day simple moving average is C$5.29 and its 200 day simple moving average is C$4.07. The firm has a market cap of C$587.47 million, a PE ratio of 25.25, a PEG ratio of -0.30 and a beta of 0.23. The company has a debt-to-equity ratio of 49.44, a quick ratio of 1.33 and a current ratio of 0.93.

Calfrac Well Services (TSE:CFW) last released its earnings results on Thursday, March 19th. The company reported C$0.06 earnings per share for the quarter. The company had revenue of C$292.18 million during the quarter. Calfrac Well Services had a return on equity of 3.06% and a net margin of 1.37%. On average, sell-side analysts forecast 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.