Pason Systems (TSE:PSI) Cut to Hold at TD Securities

Key Points

• TD Securities downgraded Pason Systems from “strong buy” to “hold” and set a C$15.00 price target.
• Analyst sentiment is mixed but leans neutral: Pason has a consensus “hold” rating and an average target price of C$15.83, while RBC raised its target to C$17.00 and maintained an “outperform” rating.
• Pason reported quarterly EPS of C$0.18 on revenue of C$100.78 million, while insiders sold more than 100,000 shares worth approximately C$1.46 million over the past quarter.

Pason Systems (TSE:PSI - Get Free Report) was downgraded by research analysts at TD Securities from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

A number of other research analysts have also commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Pason Systems from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. TD downgraded shares of Pason Systems from a "buy" rating to a "hold" rating and set a C$15.00 target price for the company. in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Pason Systems has a consensus rating of "Hold" and a consensus target price of C$15.83.

Pason Systems Stock Performance

Shares of PSI opened at C$14.05 on Tuesday. The company's 50 day simple moving average is C$14.30 and its 200-day simple moving average is C$13.67. The firm has a market cap of C$1.09 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 10.78 and a beta of 0.61. Pason Systems has a 12-month low of C$11.50 and a 12-month high of C$15.47. The company has a current ratio of 2.29, a quick ratio of 3.54 and a debt-to-equity ratio of 5.51.

Pason Systems (TSE:PSI - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. The firm had revenue of C$100.78 million during the quarter. Pason Systems had a net margin of 11.53% and a return on equity of 9.71%. As a group, equities analysts predict that Pason Systems will post 1.23 EPS for the current year.

Insider Activity

In other Pason Systems news, insider Russell Smith sold 7,500 shares of the business's stock in a transaction on Monday, September 28th. The shares were sold at an average price of C$13.79, for a total value of C$103,425.00. Also, insider Jonathan Faber sold 45,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of C$14.55, for a total transaction of C$654,750.00. Following the completion of the transaction, the insider directly owned 42,000 shares in the company, valued at C$611,100. This represents a 51.72% decrease in their ownership of the stock. Over the last quarter, insiders sold 100,191 shares of company stock valued at $1,455,400. 0.13% of the stock is currently owned by company insiders.

About Pason Systems

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company's primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.