Calfrac Well Services (TSE:CFW) Reaches New 1-Year High – Should You Buy?

Calfrac Well Services Ltd. (TSE:CFW)’s stock price reached a new 52-week high on Monday. The company traded as high as C$7.36 and last traded at C$7.34, with a volume of 377,359 shares changing hands. The stock had previously closed at C$7.10.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets raised shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and lifted their price target for the company from C$7.50 to C$9.00 in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$8.50.

Calfrac Well Services Trading Up 2.5%

The firm has a 50-day simple moving average of C$6.92 and a 200-day simple moving average of C$6.43. The stock has a market cap of C$734.87 million, a PE ratio of 11.93, a P/E/G ratio of -0.30 and a beta of -0.32. The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. The firm had revenue of C$426.69 million during the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. Equities analysts forecast that Calfrac Well Services Ltd. will post 0.38 earnings per share for the current year.

Insider Activity

In related news, insider Jeffrey Irwin Ellis sold 13,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of C$6.75, for a total value of C$87,750.00. Following the completion of the transaction, the insider directly owned 15,489 shares in the company, valued at approximately C$104,550.75. The trade was a 45.63% decrease in their ownership of the stock. Also, insider Sime Armoyan sold 284,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the transaction, the insider owned 14,800,000 shares in the company, valued at C$108,040,000. This trade represents a 1.88% decrease in their ownership of the stock. In the last quarter, insiders have sold 705,600 shares of company stock worth $5,021,236. 46.88% of the stock is currently owned by corporate insiders.

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.