Pason Systems (TSE:PSI) Price Target Raised to C$17.00

Pason Systems (TSE:PSI) had its target price increased by equities research analysts at National Bank Financial from C$15.50 to C$17.00 in a report released on Monday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial‘s price target would indicate a potential upside of 17.48% from the company’s previous close.

Several other research firms also recently commented on PSI. Royal Bank Of Canada lifted their target price on shares of Pason Systems from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. TD cut shares of Pason Systems from a “buy” rating to a “hold” rating and set a C$15.00 price target for the company. in a research report on Tuesday, October 20th. Finally, TD Securities downgraded shares of Pason Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Pason Systems presently has an average rating of “Hold” and an average target price of C$16.33.

Pason Systems Price Performance

Shares of TSE PSI traded up C$0.65 during mid-day trading on Monday, hitting C$14.47. 79,689 shares of the stock traded hands, compared to its average volume of 234,909. The company has a market cap of C$1.12 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 10.78 and a beta of 0.61. Pason Systems has a twelve month low of C$11.50 and a twelve month high of C$15.47. The company has a debt-to-equity ratio of 5.51, a current ratio of 2.29 and a quick ratio of 3.54. The firm has a 50 day simple moving average of C$14.27 and a two-hundred day simple moving average of C$13.68.

Pason Systems (TSE:PSI) last posted its earnings results on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. Pason Systems had a return on equity of 9.71% and a net margin of 11.53%. The firm had revenue of C$100.78 million during the quarter. As a group, equities research analysts forecast that Pason Systems will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kevin Boston sold 2,714 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$14.74, for a total value of C$40,004.36. Following the transaction, the insider owned 7,300 shares in the company, valued at approximately C$107,602. The trade was a 27.10% decrease in their position. Also, insider Jonathan Faber sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of C$14.55, for a total transaction of C$654,750.00. Following the completion of the transaction, the insider owned 42,000 shares in the company, valued at C$611,100. This trade represents a 51.72% decrease in their position. Insiders sold a total of 100,191 shares of company stock valued at $1,455,400 over the last three months. Insiders own 0.13% of the company’s stock.

About Pason Systems

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.