Trican Well Service (TCW) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Trican Well Service (TSE:TCW) from a neutral rating to an underweight rating in a research note issued to investors on Thursday morning.

Several other equities analysts have also recently issued reports on the company. Raymond James cut Trican Well Service from a strong-buy rating to an outperform rating and dropped their price target for the company from C$6.25 to C$4.50 in a research report on Friday, September 21st. BMO Capital Markets dropped their price target on Trican Well Service from C$4.00 to C$3.50 in a research report on Thursday, August 2nd. Royal Bank of Canada cut Trican Well Service from an outperform rating to a sector perform rating and dropped their price target for the company from C$5.00 to C$3.50 in a research report on Thursday, September 20th. Canaccord Genuity dropped their price target on Trican Well Service from C$4.50 to C$4.25 in a research report on Friday, August 17th. Finally, National Bank Financial dropped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of C$4.08.

TCW opened at C$1.91 on Thursday. Trican Well Service has a one year low of C$1.90 and a one year high of C$5.34.

Trican Well Service (TSE:TCW) last posted 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). Trican Well Service had a return on equity of 4.77% and a net margin of 4.99%. The firm had revenue of C$171.99 million for the quarter, compared to analyst estimates of C$172.68 million.

In related news, insider Shaun Patrick Kelly purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were purchased at an average price of C$2.75 per share, for a total transaction 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.

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Analyst Recommendations for Trican Well Service (TSE:TCW)

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