Precision Drilling (TSE:PD) Price Target Cut to C$115.00 by Analysts at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective dropped by investment analysts at CIBC from C$125.00 to C$115.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 47.76% from the company’s previous close.

A number of other brokerages also recently commented on PD. Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday. TD Securities downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$120.00 to C$100.00 in a research note on Monday, February 3rd. ATB Capital boosted their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Finally, Raymond James cut their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a report on Friday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$119.00.

Precision Drilling Trading Down 1.5 %

Shares of Precision Drilling stock traded down C$1.21 on Friday, hitting C$77.83. 127,621 shares of the company traded hands, compared to its average volume of 111,976. The company has a market cap of C$1.11 billion, a PE ratio of 4.58, a PEG ratio of -3.24 and a beta of 2.76. Precision Drilling has a 52 week low of C$76.50 and a 52 week high of C$109.20. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The stock’s 50 day moving average price is C$87.20 and its 200-day moving average price is C$89.40.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.