Calfrac Well Services (TSE:CFW) Price Target Cut to C$5.00

Calfrac Well Services (TSE:CFW) had its price objective reduced by ATB Capital from C$6.00 to C$5.00 in a report published on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other equities research analysts have also issued reports on CFW. Royal Bank of Canada reduced their price target on Calfrac Well Services from C$5.50 to C$4.50 and set a sector perform rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus cut their price objective on Calfrac Well Services from C$5.00 to C$4.50 and set a hold rating on the stock in a research note on Wednesday, May 8th.

Calfrac Well Services Stock Down 5.8 %

Shares of Calfrac Well Services stock opened at C$4.09 on Friday. The firm has a market cap of C$350.59 million, a price-to-earnings ratio of 1.83, a P/E/G ratio of -0.30 and a beta of 1.79. The company has a debt-to-equity ratio of 54.34, a current ratio of 2.57 and a quick ratio of 1.33. Calfrac Well Services has a 52-week low of C$3.75 and a 52-week high of C$6.20. The stock has a 50-day simple moving average of C$4.19 and a 200-day simple moving average of C$4.44.

Calfrac Well Services (TSE:CFW) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.02). The firm had revenue of C$330.10 million for the quarter, compared to analyst estimates of C$343.90 million. Calfrac Well Services had a net margin of 8.83% and a return on equity of 29.25%. On average, equities research analysts expect that Calfrac Well Services will post 0.6198582 earnings per share for the current fiscal year.

Insider Activity at Calfrac Well Services

In related news, Director Charles Pellerin acquired 440,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of C$4.00 per share, with a total value of C$1,760,000.00. In other Calfrac Well Services news, Director Charles Pellerin purchased 440,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of C$4.00 per share, with a total value of C$1,760,000.00. Also, insider Sime Armoyan purchased 201,700 shares of the company’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of C$3.93 per share, for a total transaction of C$792,681.00. In the last ninety days, insiders have purchased 1,404,000 shares of company stock valued at $5,706,881. Corporate insiders own 46.88% of the company’s stock.

About Calfrac Well Services

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 completion services for the oil and natural gas industry. The company was founded in 1999 and is headquartered in Calgary, Canada.