National Bank Financial Lowers Precision Drilling (TSE:PD) Price Target to C$1.50

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price decreased by National Bank Financial from C$2.50 to C$1.50 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 226.09% from the company’s previous close.

Several other research firms have also commented on PD. AltaCorp Capital lowered shares of Precision Drilling from an “outperform” rating to a “sector perform” rating in a research report on Thursday, March 12th. Raymond James decreased their price objective on shares of Precision Drilling from C$3.25 to C$1.15 and set an “outperform” rating on the stock in a research report on Wednesday, March 18th. BMO Capital Markets boosted their price objective on shares of Precision Drilling from C$2.50 to C$3.00 in a research report on Friday, February 14th. Tudor Pickering reiterated a “buy” rating on shares of Precision Drilling in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada decreased their price objective on shares of Precision Drilling from C$4.00 to C$1.50 in a research report on Monday, March 16th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of C$1.85.

Precision Drilling stock opened at C$0.46 on Tuesday. Precision Drilling has a 52 week low of C$0.39 and a 52 week high of C$4.05. The company has a quick ratio of 1.48, a current ratio of 1.93 and a debt-to-equity ratio of 97.85. The firm’s 50-day simple moving average is C$1.30 and its 200 day simple moving average is C$1.55. The firm has a market capitalization of $112.75 million and a PE ratio of 23.00.

In other news, Director Allen R. Hagerman bought 50,000 shares of Precision Drilling stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of C$0.58 per share, for a total transaction of C$29,000.00. Following the acquisition, the director now owns 74,277 shares in the company, valued at C$43,080.66. Over the last 90 days, insiders acquired 67,500 shares of company stock worth $40,835.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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