ATB Cormark Capital Markets Issues Positive Forecast for Trican Well Service (TSE:TCW) Stock Price

Trican Well Service (TSE:TCW) had its price target increased by stock analysts at ATB Cormark Capital Markets from C$8.00 to C$8.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would indicate a potential upside of 10.82% from the stock’s previous close.

Other research analysts have also issued research reports about the company. National Bank Financial lifted their price target on Trican Well Service from C$6.50 to C$8.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. BMO Capital Markets raised Trican Well Service from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from C$7.00 to C$9.00 in a research report on Tuesday. Finally, Royal Bank Of Canada lifted their price target on Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Trican Well Service has an average rating of “Hold” and an average target price of C$7.67.

Trican Well Service Stock Performance

TCW traded up C$0.09 during trading on Wednesday, hitting C$7.67. 528,015 shares of the stock were exchanged, compared to its average volume of 730,595. The firm has a market capitalization of C$1.61 billion, a P/E ratio of 13.46, a PEG ratio of 0.22 and a beta of -0.27. Trican Well Service has a 1-year low of C$4.22 and a 1-year high of C$7.94. The stock has a fifty day moving average price of C$7.06 and a two-hundred day moving average price of C$6.48. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 19.28.

Trican Well Service (TSE:TCW) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.14 EPS for the quarter. The company had revenue of C$330.27 million for the quarter. Trican Well Service had a return on equity of 19.03% and a net margin of 10.23%.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.