Precision Drilling (TSE:PD) Price Target Increased to C$143.00 by Analysts at Raymond James

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price upped by equities researchers at Raymond James from C$136.00 to C$143.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ target price indicates a potential upside of 38.16% from the company’s previous close.

A number of other research analysts have also weighed in on PD. BMO Capital Markets raised their price target on shares of Precision Drilling from C$135.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. TD Securities lifted their price target on shares of Precision Drilling from C$115.00 to C$140.00 and gave the company a “buy” rating in a research report on Thursday. CIBC raised their target price on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, ATB Capital raised their price objective on Precision Drilling from C$120.00 to C$123.00 in a research report on Thursday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$131.00.

Precision Drilling Stock Performance

TSE:PD traded down C$2.72 during trading hours on Thursday, reaching C$103.50. The company had a trading volume of 66,659 shares, compared to its average volume of 83,610. The company has a debt-to-equity ratio of 62.02, a current ratio of 1.71 and a quick ratio of 1.36. The business’s 50 day moving average price is C$96.42 and its 200-day moving average price is C$91.62. Precision Drilling has a 1-year low of C$67.46 and a 1-year high of C$109.20. The firm has a market cap of C$1.50 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90.

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.