STEP Energy Services (TSE:STEP) Price Target Cut to C$1.20

STEP Energy Services (TSE:STEP) had its target price decreased by stock analysts at AltaCorp Capital from C$2.00 to C$1.20 in a research note issued on Monday, BayStreet.CA reports. AltaCorp Capital’s price target suggests a potential upside of 10.09% from the stock’s current price.

Several other research analysts also recently issued reports on STEP. CIBC lowered their price target on shares of STEP Energy Services from C$5.00 to C$4.50 in a report on Tuesday, October 15th. Raymond James reiterated an “outperform” rating and set a C$2.00 price target on shares of STEP Energy Services in a report on Friday. BMO Capital Markets lowered their price target on shares of STEP Energy Services from C$1.75 to C$1.25 in a report on Friday. Cormark upped their price target on shares of STEP Energy Services from C$4.00 to C$4.50 in a report on Friday, August 9th. Finally, National Bank Financial downgraded shares of STEP Energy Services from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$3.00 to C$2.00 in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of C$2.82.

Shares of STEP stock traded down C$0.01 during trading on Monday, hitting C$1.09. The company had a trading volume of 99,133 shares, compared to its average volume of 161,394. STEP Energy Services has a one year low of C$1.04 and a one year high of C$2.98. The firm has a market capitalization of $78.11 million and a P/E ratio of -1.30. The company has a debt-to-equity ratio of 60.25, a quick ratio of 1.47 and a current ratio of 1.77. The stock’s 50-day moving average price is C$1.37 and its 200 day moving average price is C$1.73.

About STEP Energy Services

STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing and fracturing solutions to service oil and natural gas wells in Canada and the United States. The company applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.

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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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