STEP Energy Services (STEP) PT Lowered to C$11.00

STEP Energy Services (TSE:STEP) had its price target lowered by stock analysts at National Bank Financial from C$12.00 to C$11.00 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 285.96% from the stock’s current price.

A number of other brokerages have also recently issued reports on STEP. Industrial Alliance Securities lowered their target price on STEP Energy Services from C$16.25 to C$11.00 in a report on Tuesday, October 9th. TD Securities lowered their target price on STEP Energy Services from C$14.50 to C$13.50 and set a “buy” rating for the company in a report on Friday, August 3rd. CIBC lowered their target price on STEP Energy Services from C$24.00 to C$22.00 in a report on Friday, August 3rd. Royal Bank of Canada lowered their target price on STEP Energy Services from C$17.00 to C$15.00 and set an “outperform” rating for the company in a report on Friday, August 3rd. Finally, Raymond James cut STEP Energy Services from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from C$18.00 to C$15.00 in a report on Friday, September 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of C$9.28.

Shares of STEP opened at C$2.85 on Thursday. STEP Energy Services has a 12-month low of C$2.80 and a 12-month high of C$13.65. The company has a debt-to-equity ratio of 57.81, a current ratio of 1.77 and a quick ratio of 1.47.

In related news, insider David Todd Johnson purchased 3,800 shares of STEP Energy Services stock in a transaction on Wednesday, August 15th. The shares were purchased at an average price of C$7.78 per share, for a total transaction of C$29,564.00.

STEP Energy Services Company Profile

STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.

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