Foraco International (TSE:FAR) Price Target Raised to C$4.50

Foraco International (TSE:FAR) had its target price hoisted by Desjardins from C$3.00 to C$4.50 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 33.14% from the company’s current price.

Foraco International Stock Performance

Foraco International stock traded up C$0.15 during midday trading on Tuesday, hitting C$3.38. 208,388 shares of the company’s stock were exchanged, compared to its average volume of 228,981. The firm’s 50 day simple moving average is C$2.69 and its 200 day simple moving average is C$2.32. Foraco International has a 12-month low of C$1.57 and a 12-month high of C$3.42. The company has a debt-to-equity ratio of 115.59, a quick ratio of 0.88 and a current ratio of 1.43. The stock has a market cap of C$333.01 million, a price-to-earnings ratio of 21.10 and a beta of 0.62.

Foraco International Company Profile

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.