Royal Bank Of Canada Boosts Calfrac Well Services (TSE:CFW) Price Target to C$8.00

Calfrac Well Services (TSE:CFW – Get Free Report) had its target price raised by research analysts at Royal Bank Of Canada from C$7.50 to C$8.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 42.86% from the company’s previous close.

Separately, ATB Cormark Capital Markets raised Calfrac Well Services from a “hold” rating to a “moderate buy” rating and boosted their target price for the company from C$5.25 to C$7.00 in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Calfrac Well Services presently has a consensus rating of “Moderate Buy” and an average target price of C$7.75.

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Calfrac Well Services Price Performance

CFW stock traded up C$0.04 during mid-day trading on Wednesday, hitting C$5.60. 198,597 shares of the stock were exchanged, compared to its average volume of 136,836. The company has a debt-to-equity ratio of 33.41, a current ratio of 1.77 and a quick ratio of 1.33. The business has a fifty day moving average price of C$5.74 and a 200 day moving average price of C$4.72. Calfrac Well Services has a 12 month low of C$3.02 and a 12 month high of C$6.80. The stock has a market capitalization of C$562.14 million, a price-to-earnings ratio of 16.47, a PEG ratio of -0.30 and a beta of -0.21.

Calfrac Well Services (TSE:CFW – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share (EPS) for the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%.The firm had revenue of C$305.37 million during the quarter. On average, sell-side analysts anticipate that Calfrac Well Services will post 0.3798828 EPS for the current year.

Insider Buying and Selling at Calfrac Well Services

In other news, insider Mark Ryan Ellingson sold 20,000 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of C$6.64, for a total value of C$132,800.00. Following the completion of the sale, the insider owned 683 shares of the company’s stock, valued at approximately C$4,535.12. The trade was a 96.70% decrease in their position. Company insiders own 46.88% of the company’s stock.

About Calfrac Well Services

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Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.

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