Royal Bank of Canada Has Lowered Expectations for Trican Well Service (TSE:TCW) Stock Price

Trican Well Service (TSE:TCW) had its target price reduced by equities researchers at Royal Bank of Canada from C$6.00 to C$5.50 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 32.21% from the stock’s previous close.

Separately, TD Securities cut their price target on Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating on the stock in a research report on Wednesday.

Trican Well Service Price Performance

Shares of TCW opened at C$4.16 on Thursday. The company has a debt-to-equity ratio of 5.89, a current ratio of 2.62 and a quick ratio of 1.75. Trican Well Service has a 1-year low of C$3.69 and a 1-year high of C$5.45. The stock has a market cap of C$785.06 million, a PE ratio of 7.40, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. The firm has a fifty day moving average price of C$4.45 and a 200 day moving average price of C$4.70.

Trican Well Service Company Profile

Trican Well Service Ltd., an equipment services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.