Canaccord Genuity Group Lowers InPlay Oil (TSE:IPO) Price Target to C$3.00

InPlay Oil (TSE:IPO) had its price objective cut by research analysts at Canaccord Genuity Group from C$3.25 to C$3.00 in a research note issued on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 73.41% from the company’s previous close.

IPO has been the subject of a number of other reports. Noble Financial raised shares of InPlay Oil to a “strong-buy” rating in a research report on Monday, October 7th. Acumen Capital reduced their price objective on shares of InPlay Oil from C$3.75 to C$3.50 in a research note on Friday, August 16th.

InPlay Oil Price Performance

IPO stock opened at C$1.73 on Friday. The company has a debt-to-equity ratio of 19.86, a quick ratio of 0.51 and a current ratio of 1.00. InPlay Oil has a 52 week low of C$1.67 and a 52 week high of C$2.57. The firm’s fifty day moving average is C$1.96 and its 200 day moving average is C$2.14. The firm has a market cap of C$155.91 million, a P/E ratio of 5.97 and a beta of 2.37.

InPlay Oil (TSE:IPO) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.05 by C$0.01. InPlay Oil had a net margin of 17.18% and a return on equity of 9.08%. The business had revenue of C$41.46 million for the quarter, compared to analyst estimates of C$41.21 million. Research analysts predict that InPlay Oil will post 0.3500838 earnings per share for the current year.

About InPlay Oil

InPlay Oil Corp. engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in Canada. The company produces and sells crude oil, natural gas, and natural gas liquids. It focuses on light oil asset base located in West Central, Alberta. InPlay Oil Corp.