STEP Energy Services (STEP) Lowered to “Sector Perform” at National Bank Financial
National Bank Financial cut shares of STEP Energy Services (TSE:STEP) from an outperform rating to a sector perform rating in a report published on Friday. National Bank Financial currently has C$6.50 price target on the stock, down from their prior price target of C$11.00.
Several other research analysts have also recently weighed in on STEP. CIBC reduced their price target on STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday. Royal Bank of Canada reduced their price target on STEP Energy Services from C$17.00 to C$15.00 and set an outperform rating for the company in a research report on Friday, August 3rd. Industrial Alliance Securities reduced their price target on STEP Energy Services from C$17.25 to C$16.25 in a research report on Friday, August 3rd. TD Securities reduced their price target on STEP Energy Services from C$14.50 to C$13.50 and set a buy rating for the company in a research report on Friday, August 3rd. Finally, Raymond James cut STEP Energy Services from a strong-buy rating to an outperform rating and reduced their price target for the company from C$18.00 to C$15.00 in a research report on Friday, September 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of C$9.28.
STEP stock traded down C$0.48 during trading on Friday, hitting C$2.85. 1,217,400 shares of the company traded hands, compared to its average volume of 176,242. The company has a current ratio of 1.77, a quick ratio of 1.47 and a debt-to-equity ratio of 57.81. STEP Energy Services has a 1 year low of C$2.80 and a 1 year high of C$13.65.
About STEP Energy Services
STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.
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