ATB Capital Trims STEP Energy Services (TSE:STEP) Target Price to C$7.00

STEP Energy Services (TSE:STEP) had its price target reduced by stock analysts at ATB Capital from C$7.50 to C$7.00 in a note issued to investors on Wednesday, BayStreet.CA reports. ATB Capital’s target price indicates a potential upside of 100.00% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. BMO Capital Markets cut STEP Energy Services from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$7.50 to C$4.50 in a report on Tuesday. Raymond James lowered their price target on STEP Energy Services from C$6.25 to C$5.50 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus downgraded STEP Energy Services from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$6.00 to C$4.50 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$5.89.

STEP Energy Services Trading Down 6.7 %

Shares of STEP stock traded down C$0.25 on Wednesday, reaching C$3.50. 503,607 shares of the stock were exchanged, compared to its average volume of 140,647. The company has a debt-to-equity ratio of 31.85, a current ratio of 1.45 and a quick ratio of 1.11. STEP Energy Services has a one year low of C$2.63 and a one year high of C$4.82. The stock has a market cap of C$252.81 million, a PE ratio of 3.65 and a beta of 2.25. The stock has a 50 day moving average price of C$4.30 and a 200 day moving average price of C$4.17.

STEP Energy Services Company Profile

STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects.