Raymond James cut shares of Trican Well Service (TSE:TCW) from a strong-buy rating to an outperform rating in a report published on Friday, BayStreet.CA reports. Raymond James currently has C$2.25 target price on the stock, down from their prior target price of C$3.00.
TCW has been the topic of a number of other reports. Cormark decreased their price target on shares of Trican Well Service from C$3.50 to C$1.75 in a research note on Wednesday, May 8th. CIBC lowered shares of Trican Well Service from an outperform rating to a neutral rating and decreased their target price for the stock from C$2.00 to C$1.50 in a research note on Thursday, July 18th. AltaCorp Capital reissued an outperform rating on shares of Trican Well Service in a research note on Thursday, June 20th. Canaccord Genuity decreased their target price on shares of Trican Well Service from C$1.55 to C$1.20 in a research note on Tuesday, July 9th. Finally, National Bank Financial decreased their target price on shares of Trican Well Service from C$2.75 to C$2.00 and set an outperform rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of C$1.54.
Trican Well Service stock traded up C$0.02 during midday trading on Friday, reaching C$0.92. The company had a trading volume of 832,200 shares, compared to its average volume of 1,143,113. The company has a market capitalization of $270.95 million and a P/E ratio of -1.35. Trican Well Service has a 12-month low of C$0.90 and a 12-month high of C$3.23. The business has a fifty day moving average of C$1.08. The company has a quick ratio of 1.75, a current ratio of 2.08 and a debt-to-equity ratio of 9.84.
About Trican Well Service
Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.
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