Precision Drilling (TSE:PD) Price Target Raised to C$140.00 at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective boosted by equities research analysts at CIBC from C$130.00 to C$140.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective points to a potential upside of 34.15% from the company’s current price.

A number of other research firms have also commented on PD. BMO Capital Markets upped their price target on shares of Precision Drilling from C$135.00 to C$140.00 and gave the company an “outperform” rating in a report on Wednesday. ATB Capital lowered their price objective on shares of Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Raymond James boosted their price target on Precision Drilling from C$132.00 to C$136.00 and gave the company a “strong-buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus lifted their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$127.20.

Precision Drilling Price Performance

Precision Drilling stock traded up C$4.92 during mid-day trading on Wednesday, hitting C$104.36. 204,688 shares of the company traded hands, compared to its average volume of 83,136. Precision Drilling has a one year low of C$67.46 and a one year high of C$109.20. The stock has a fifty day moving average price of C$96.21 and a 200-day moving average price of C$91.51. The stock has a market cap of C$1.51 billion, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90. The company has a debt-to-equity ratio of 62.02, a quick ratio of 1.36 and a current ratio of 1.71.

Precision Drilling Company Profile

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.