Trican Well Service (TCW) Cut to “Hold” at Canaccord Genuity

Canaccord Genuity lowered shares of Trican Well Service (TSE:TCW) from a buy rating to a hold rating in a research note issued to investors on Tuesday. The firm currently has C$2.50 target price on the stock, down from their previous target price of C$3.25.

A number of other brokerages have also commented on TCW. BMO Capital Markets dropped their target price on Trican Well Service from C$4.00 to C$3.50 in a research report on Thursday, August 2nd. Royal Bank of Canada lowered Trican Well Service from an outperform rating to a sector perform rating and dropped their target price for the company from C$5.00 to C$3.50 in a research report on Thursday, September 20th. National Bank Financial dropped their target price on Trican Well Service from C$5.00 to C$3.50 and set an outperform rating on the stock in a research report on Wednesday, September 26th. Raymond James lowered Trican Well Service from a strong-buy rating to an outperform rating and dropped their target price for the company from C$6.25 to C$4.50 in a research report on Friday, September 21st. Finally, Evercore downgraded Trican Well Service from an outperform rating to an in-line rating and decreased their price target for the company from C$4.00 to C$3.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of C$4.08.

Shares of TSE TCW opened at C$1.94 on Tuesday. Trican Well Service has a 52 week low of C$1.90 and a 52 week high of C$5.34.

Trican Well Service (TSE:TCW) last issued its earnings results on Wednesday, August 1st. The company reported C($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of C($0.08) by C($0.02). The firm had revenue of C$171.99 million during the quarter, compared to analysts’ expectations of C$172.68 million. Trican Well Service had a net margin of 4.99% and a return on equity of 4.77%.

In related news, insider Shaun Patrick Kelly purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was bought at an average cost of C$2.75 per share, with a total value of C$55,000.00.

Trican Well Service Company Profile

Trican Well Service Ltd., an oilfield 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. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.

Read More: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Analyst Recommendations for Trican Well Service (TSE:TCW)

Receive News & Ratings for Trican Well Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trican Well Service and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply