Calfrac Well Services (TSE:CFW) Sets New 1-Year High on Analyst Upgrade

Calfrac Well Services Ltd. (TSE:CFW)’s stock price reached a new 52-week high on Tuesday after ATB Cormark Capital Markets upgraded the stock from a hold rating to a moderate buy rating. ATB Cormark Capital Markets now has a C$9.00 price target on the stock, up from their previous price target of C$7.50. Calfrac Well Services traded as high as C$7.29 and last traded at C$7.29, with a volume of 107013 shares. The stock had previously closed at C$6.89.

Separately, Royal Bank Of Canada raised their target price on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$8.50.

Insider Buying and Selling

In related news, insider Alif Husein Noorani sold 7,432 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$5.90, for a total transaction of C$43,848.80. Following the completion of the sale, the insider directly owned 145 shares in the company, valued at C$855.50. This represents a 98.09% decrease in their position. Also, Director Charles Pellerin acquired 11,300 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of C$6.20 per share, for a total transaction of C$70,060.00. Following the transaction, the director owned 6,222,723 shares of the company’s stock, valued at C$38,580,882.60. This represents a 0.18% increase in their ownership of the stock. In the last three months, insiders have purchased 19,400 shares of company stock worth $119,526 and have sold 20,469,098 shares worth $134,132,294. Company insiders own 46.88% of the company’s stock.

Calfrac Well Services Stock Performance

The business’s 50-day moving average price is C$6.40 and its 200-day moving average price is C$5.96. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 25.17. The stock has a market cap of C$724.40 million, a PE ratio of 11.82, a P/E/G ratio of -0.30 and a beta of -0.45.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. The firm had revenue of C$426.69 million during the quarter. As a group, equities research analysts expect that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Calfrac Well Services Company Profile

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.