Royal Bank of Canada Lowers Calfrac Well Services (TSE:CFW) Price Target to C$8.00

Calfrac Well Services (TSE:CFW – Get Rating) had its target price reduced by equities research analysts at Royal Bank of Canada from C$8.50 to C$8.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 101.01% from the stock’s current price.

CFW has been the subject of a number of other research reports. BMO Capital Markets decreased their price target on shares of Calfrac Well Services from C$8.50 to C$5.00 in a research report on Friday. Stifel Nicolaus cut their target price on Calfrac Well Services from C$14.00 to C$8.50 in a research note on Friday. Finally, ATB Capital cut their price objective on shares of Calfrac Well Services from C$14.50 to C$12.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$8.70.

Calfrac Well Services Trading Down 8.5 %

TSE CFW opened at C$3.98 on Friday. The company has a debt-to-equity ratio of 120.62, a quick ratio of 1.33 and a current ratio of 2.07. Calfrac Well Services has a one year low of C$3.90 and a one year high of C$7.90. The company’s 50 day moving average price is C$5.95 and its 200 day moving average price is C$6.09. The firm has a market capitalization of C$319.99 million, a price-to-earnings ratio of -28.43, a PEG ratio of -0.30 and a beta of 1.93.

Insider Activity

In related news, Director Charles Pellerin purchased 8,500 shares of the stock in a transaction on Wednesday, December 28th. The shares were purchased at an average cost of C$5.94 per share, for a total transaction of C$50,515.50. Following the completion of the transaction, the director now directly owns 558,500 shares of the company’s stock, valued at approximately C$3,319,165.50. 24.97% of the stock is currently owned by company insiders.

Calfrac Well Services Company Profile

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Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well stimulation services, as well as pressure pumping services to oil and natural gas industries.