Precision Drilling (TSE:PD) Reaches New 52-Week High – Still a Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$123.15 and last traded at C$123.15, with a volume of 411 shares. The stock had previously closed at C$122.26.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Canadian Imperial Bank of Commerce upped their price objective on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. Royal Bank Of Canada raised their price objective on shares of Precision Drilling from C$119.00 to C$124.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. ATB Cormark Capital Markets set a C$120.00 target price on Precision Drilling and gave the stock an “outperform” rating in a report on Friday, December 19th. Finally, TD Securities increased their price target on Precision Drilling from C$118.00 to C$123.00 in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling has an average rating of “Moderate Buy” and a consensus target price of C$134.29.

Precision Drilling Price Performance

The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The firm has a market capitalization of C$1.63 billion, a P/E ratio of 901.21, a PEG ratio of -3.24 and a beta of 1.43. The company’s 50 day moving average price is C$104.34 and its 200 day moving average price is C$88.94.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.