Several other research analysts have also recently issued reports on the company. National Bank Financial cut STEP Energy Services from an outperform rating to a sector perform rating and lowered their price objective for the stock from C$11.00 to C$6.50 in a research report on Friday. CIBC lowered their price objective on STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday. Industrial Alliance Securities decreased their target price on STEP Energy Services from C$16.25 to C$11.00 in a research report on Tuesday, October 9th. Raymond James cut STEP Energy Services from a strong-buy rating to an outperform rating and decreased their target price for the company from C$18.00 to C$15.00 in a research report on Friday, September 21st. Finally, Royal Bank of Canada decreased their target price on STEP Energy Services from C$17.00 to C$15.00 and set an outperform rating for the company in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. STEP Energy Services presently has an average rating of Hold and a consensus price target of C$9.28.
Shares of TSE:STEP traded down C$0.48 on Friday, hitting C$2.85. 1,217,400 shares of the company’s stock were exchanged, compared to its average volume of 176,242. STEP Energy Services has a 1-year low of C$2.80 and a 1-year high of C$13.65. The company has a quick ratio of 1.47, a current ratio of 1.77 and a debt-to-equity ratio of 57.81.
About STEP Energy Services
STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It 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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