Calfrac Well Services (TSE:CFW) Reaches New 12-Month High – Should You Buy?

Shares of Calfrac Well Services Ltd. (TSE:CFW) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$6.69 and last traded at C$6.55, with a volume of 52489 shares traded. The stock had previously closed at C$6.57.

Wall Street Analyst Weigh In

CFW has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price target on shares of Calfrac Well Services from C$5.50 to C$7.00 and gave the company a “sector perform” rating in a report on Monday, March 23rd. ATB Cormark Capital Markets upgraded Calfrac Well Services from a “hold” rating to a “moderate buy” rating and increased their price objective for the stock from C$5.25 to C$7.00 in a report on Friday, March 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Calfrac Well Services presently has a consensus rating of “Moderate Buy” and an average price target of C$7.00.

Calfrac Well Services Stock Up 3.4%

The firm has a market capitalization of C$668.14 million, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of -0.30 and a beta of 0.23. The company has a debt-to-equity ratio of 33.41, a quick ratio of 1.33 and a current ratio of 1.77. The business’s 50 day moving average is C$5.58 and its 200-day moving average is C$4.27.

Calfrac Well Services (TSE:CFW) last issued its quarterly earnings results on Thursday, March 19th. The company reported C$0.06 EPS for the quarter. The company had revenue of C$292.18 million during the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%. Equities analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Activity at Calfrac Well Services

In other Calfrac Well Services news, insider Mark Ryan Ellingson sold 20,000 shares of Calfrac Well Services stock in a transaction on Monday, March 30th. The stock was sold at an average price of C$6.64, for a total transaction of C$132,800.00. Following the completion of the transaction, the insider directly owned 683 shares of the company’s stock, valued at approximately C$4,535.12. This trade represents a 96.70% decrease in their ownership of the stock. 46.88% of the stock is owned by company insiders.

About Calfrac Well Services

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.