Precision Drilling (TSE:PD) Reaches New 12-Month High – Time to Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$123.15 and last traded at C$123.15, with a volume of 411 shares traded. The stock had previously closed at C$122.26.

Analysts Set New Price Targets

PD has been the topic of several recent research reports. Canadian Imperial Bank of Commerce raised their target price on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. ATB Cormark Capital Markets set a C$120.00 price objective on shares of Precision Drilling and gave the company an “outperform” rating in a report on Friday, December 19th. BMO Capital Markets lifted their target price on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. National Bank Financial increased their price target on Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a research note on Friday, February 13th. Finally, TD Securities lifted their price objective on Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$134.29.

Precision Drilling Price Performance

The company’s 50 day simple moving average is C$104.34 and its 200 day simple moving average is C$88.94. The stock has a market cap of C$1.63 billion, a P/E ratio of 901.21, a P/E/G ratio of -3.24 and a beta of 1.43. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.