Calfrac Well Services (TSE:CFW) Hits New 52-Week High – What’s Next?

Calfrac Well Services Ltd. (TSE:CFW) shares hit a new 52-week high on Wednesday . The company traded as high as C$6.69 and last traded at C$6.55, with a volume of 52489 shares trading hands. The stock had previously closed at C$6.57.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. ATB Cormark Capital Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and upped their price objective for the stock from C$5.25 to C$7.00 in a report on Friday, March 20th. Royal Bank Of Canada lifted their target price on shares of Calfrac Well Services from C$5.50 to C$7.00 and gave the company a “sector perform” rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$7.00.

Calfrac Well Services Stock Down 0.3%

The firm has a market cap of C$654.16 million, a PE ratio of 19.26, a price-to-earnings-growth ratio of -0.30 and a beta of 0.23. The company has a quick ratio of 1.33, a current ratio of 1.77 and a debt-to-equity ratio of 33.41. The business has a 50-day moving average price of C$5.52 and a two-hundred day moving average price of C$4.24.

Calfrac Well Services (TSE:CFW) last released its earnings results on Thursday, March 19th. The company reported C$0.06 earnings per share (EPS) for the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%.The firm had revenue of C$292.18 million during the quarter. On average, equities research analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insider Activity

In other news, insider Mark Ryan Ellingson sold 20,000 shares of Calfrac Well Services stock in a transaction dated Monday, March 30th. The stock was sold at an average price of C$6.64, for a total value of C$132,800.00. Following the completion of the transaction, the insider owned 683 shares in the company, valued at approximately C$4,535.12. This trade represents a 96.70% decrease in their position. Insiders own 46.88% of the company’s stock.

About Calfrac Well Services

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.