Calfrac Well Services (TSE:CFW) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Calfrac Well Services (TSE:CFW) had its price objective upped by equities researchers at ATB Cormark Capital Markets from C$7.25 to C$7.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 33.93% from the stock’s previous close.

Separately, Royal Bank Of Canada upped their price objective on 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. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Calfrac Well Services presently has an average rating of “Moderate Buy” and a consensus price target of C$7.75.

Calfrac Well Services Stock Up 0.7%

CFW stock traded up C$0.04 during midday trading on Wednesday, hitting C$5.60. The company’s stock had a trading volume of 198,597 shares, compared to its average volume of 136,836. The company has a market cap of C$562.14 million, a PE ratio of 16.47, a P/E/G ratio of -0.30 and a beta of -0.21. Calfrac Well Services has a 12 month low of C$3.02 and a 12 month high of C$6.80. The company has a current ratio of 1.77, a quick ratio of 1.33 and a debt-to-equity ratio of 33.41. The firm’s 50-day moving average is C$5.74 and its 200-day moving average is C$4.72.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.19 earnings per share (EPS) for the quarter. The business had revenue of C$305.37 million for the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%. On average, equities research analysts forecast that Calfrac Well Services will post 0.3798828 earnings per share for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In other news, insider Mark Ryan Ellingson sold 20,000 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of C$6.64, for a total transaction of C$132,800.00. Following the transaction, the insider directly owned 683 shares of the company’s stock, valued at C$4,535.12. This represents a 96.70% decrease in their position. 46.88% of the stock is owned by insiders.

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.