Precision Drilling (TSE:PD) Price Target Raised to C$140.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective boosted by CIBC from C$130.00 to C$140.00 in a report published on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities analysts also recently commented on PD. Raymond James boosted their price objective on Precision Drilling from C$132.00 to C$136.00 and gave the company a strong-buy rating in a research report on Friday, April 26th. ATB Capital lowered their price target on Precision Drilling from C$126.00 to C$120.00 and set an outperform rating on the stock in a report on Friday, June 28th. Stifel Nicolaus increased their price objective on shares of Precision Drilling from C$115.00 to C$125.00 and gave the company a buy rating in a report on Thursday, April 18th. Finally, BMO Capital Markets boosted their target price on shares of Precision Drilling from C$135.00 to C$140.00 and gave the stock an outperform rating in a report on Wednesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Precision Drilling currently has an average rating of Buy and an average target price of C$131.00.

Precision Drilling Stock Down 7.1 %

Shares of PD stock opened at C$96.43 on Wednesday. The company has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 5.85, a PEG ratio of -3.24 and a beta of 2.90. The company has a debt-to-equity ratio of 62.02, a current ratio of 1.71 and a quick ratio of 1.36. The company’s fifty day moving average price is C$96.59 and its 200-day moving average price is C$91.70. Precision Drilling has a one year low of C$67.46 and a one year high of C$109.20.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.