Calfrac Well Services (TSE:CFW) Sets New 12-Month High Following Analyst Upgrade

Calfrac Well Services Ltd. (TSE:CFW)’s stock price hit a new 52-week high during trading on Friday after ATB Cormark Capital Markets upgraded the stock from a sector perform rating to an outperform rating. ATB Cormark Capital Markets now has a C$7.00 price target on the stock, up from their previous price target of C$5.25. Calfrac Well Services traded as high as C$5.94 and last traded at C$5.79, with a volume of 265453 shares trading hands. The stock had previously closed at C$5.66.

Calfrac Well Services Stock Up 3.4%

The company has a current ratio of 0.93, a quick ratio of 1.33 and a debt-to-equity ratio of 49.44. The stock has a 50 day simple moving average of C$5.26 and a 200 day simple moving average of C$4.05. The firm has a market capitalization of C$578.57 million, a PE ratio of 24.87, a PEG ratio of -0.30 and a beta of 0.23.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Thursday, March 19th. The company reported C$0.06 earnings per share for the quarter. Calfrac Well Services had a return on equity of 3.06% and a net margin of 1.37%.The firm had revenue of C$292.18 million during the quarter. As a group, sell-side analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

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.