Canaccord Genuity Cuts Precision Drilling (TSE:PD) Price Target to C$3.50

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by Canaccord Genuity from C$3.75 to C$3.50 in a report published on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on PD. Citigroup set a $86.00 price target on shares of Prologis and gave the company a buy rating in a research report on Thursday, June 6th. National Bank Financial reissued an outperform spec overweight rating on shares of Integra Resources in a research report on Thursday, April 25th. AltaCorp Capital reissued a sector perform rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Raymond James reissued a buy rating on shares of Precision Drilling in a research report on Wednesday, June 5th. Finally, BMO Capital Markets set a $32.00 price target on shares of Axalta Coating Systems and gave the company a hold rating in a research report on Friday, April 26th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of C$5.00.

Shares of Precision Drilling stock opened at C$2.42 on Tuesday. Precision Drilling has a 52-week low of C$2.20 and a 52-week high of C$5.33. The stock has a market cap of $719.77 million and a PE ratio of -2.82. The firm has a fifty day simple moving average of C$2.43. The company has a quick ratio of 1.86, a current ratio of 2.11 and a debt-to-equity ratio of 109.07.

In related news, insider Dan Alexandru Solomon sold 342,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of C$22.32, for a total value of C$7,633,440.00. Also, Director Carey Thomas Ford purchased 15,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of C$2.45 per share, with a total value of C$37,114.64. Following the completion of the purchase, the director now owns 147,240 shares in the company, valued at C$361,425.91.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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