Precision Drilling (TSE:PD) Price Target Cut to C$115.00 by Analysts at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by CIBC from C$125.00 to C$115.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 47.76% from the stock’s previous close.

A number of other brokerages have also recently commented on PD. ATB Capital raised their target price on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. TD Securities cut Precision Drilling from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$120.00 to C$100.00 in a report on Monday, February 3rd. Royal Bank of Canada decreased their target price on Precision Drilling from C$121.00 to C$110.00 in a report on Friday. Finally, Raymond James decreased their price target on Precision Drilling from C$146.00 to C$141.00 in a report on Friday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Stock Performance

Precision Drilling stock traded down C$1.21 during trading on Friday, reaching C$77.83. The company had a trading volume of 127,621 shares, compared to its average volume of 111,976. Precision Drilling has a 52 week low of C$76.50 and a 52 week high of C$109.20. The firm’s 50-day simple moving average is C$87.20 and its 200 day simple moving average is C$89.40. The firm has a market capitalization of C$1.11 billion, a price-to-earnings ratio of 4.58, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98.

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.