STEP Energy Services (TSE:STEP) Hits New 52-Week High – Time to Buy?

STEP Energy Services Ltd. (TSE:STEP) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$5.18 and last traded at C$5.11, with a volume of 321954 shares trading hands. The stock had previously closed at C$5.02.

Analysts Set New Price Targets

A number of brokerages have issued reports on STEP. Acumen Capital set a C$5.25 price target on STEP Energy Services in a research note on Friday, October 11th. BMO Capital Markets upped their target price on STEP Energy Services from C$4.50 to C$5.00 in a research note on Tuesday, November 5th. Raymond James dropped their price objective on STEP Energy Services from C$6.25 to C$6.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada decreased their target price on STEP Energy Services from C$5.50 to C$5.00 in a research report on Thursday, August 8th.

STEP Energy Services Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.11 and a debt-to-equity ratio of 25.45. The firm’s 50-day moving average price is C$4.06 and its two-hundred day moving average price is C$4.10. The stock has a market cap of C$374.89 million, a PE ratio of 5.58 and a beta of 2.07.

About STEP Energy Services

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.