ATB Cormark Capital Markets Raises Precision Drilling (TSE:PD) Price Target to C$160.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective upped by stock analysts at ATB Cormark Capital Markets from C$135.00 to C$160.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective indicates a potential upside of 15.94% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on PD. Canadian Imperial Bank of Commerce increased their target price on shares of Precision Drilling from C$120.00 to C$140.00 in a research report on Friday, February 13th. Royal Bank Of Canada upped their price objective on shares of Precision Drilling from C$124.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Monday. TD Securities raised their price objective on shares of Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. Raymond James Financial lifted their target price on shares of Precision Drilling from C$131.00 to C$143.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, BMO Capital Markets boosted their target price on Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Precision Drilling has an average rating of “Moderate Buy” and an average price target of C$142.29.

Precision Drilling Price Performance

PD stock traded up C$2.47 during trading on Monday, hitting C$138.00. The company had a trading volume of 45,630 shares, compared to its average volume of 92,995. The company has a fifty day moving average price of C$116.42 and a two-hundred day moving average price of C$96.36. Precision Drilling has a fifty-two week low of C$51.38 and a fifty-two week high of C$138.65. The company has a market cap of C$1.79 billion, a P/E ratio of 985.71, a P/E/G ratio of -3.24 and a beta of 1.09. The company has a current ratio of 1.62, a quick ratio of 1.36 and a debt-to-equity ratio of 49.96.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Thursday, February 12th. The company reported C($6.50) earnings per share (EPS) for the quarter. The company had revenue of C$478.51 million for the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.