Pason Systems (TSE:PSI) Downgraded by TD to Hold

Key Points

• TD downgraded Pason Systems from “buy” to “hold” and set a C$15.00 price target, implying approximately 9.17% upside from the prior close. The analyst consensus remains “Moderate Buy,” with an average target of C$15.83.
• Pason Systems shares fell 3.5% to C$13.74 during Tuesday trading, while the company reported quarterly EPS of C$0.18 on revenue of C$100.78 million.
• Company insiders sold a combined 100,191 shares worth approximately C$1.46 million during the last quarter, reducing their holdings; insiders collectively own 0.13% of the stock.

Pason Systems (TSE:PSI - Get Free Report) was downgraded by equities research analysts at TD from a "buy" rating to a "hold" rating in a research note issued on Tuesday, BayStreet reports. They currently have a C$15.00 price target on the stock. TD's target price would indicate a potential upside of 9.17% from the stock's previous close.

Separately, Royal Bank Of Canada increased their price target on Pason Systems from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$15.83.

Pason Systems Trading Down 3.5%

TSE:PSI traded down C$0.50 during trading hours on Tuesday, hitting C$13.74. 145,562 shares of the company were exchanged, compared to its average volume of 235,968. The stock has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 10.78 and a beta of 0.61. Pason Systems has a one year low of C$11.50 and a one year high of C$15.47. The company has a fifty day simple moving average of C$14.29 and a 200 day simple moving average of C$13.66. 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 for the quarter. Pason Systems had a return on equity of 9.71% and a net margin of 11.53%. Sell-side analysts expect that Pason Systems will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at Pason Systems

In other Pason Systems news, insider Lars Olesen sold 13,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of C$14.60, for a total value of C$189,800.00. Following the transaction, the insider owned 8,800 shares in the company, valued at approximately C$128,480. This represents a 59.63% decrease in their ownership of the stock. Also, insider Jonathan Faber sold 45,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of C$14.55, for a total value of C$654,750.00. Following the completion of the transaction, the insider owned 42,000 shares in the company, valued at approximately C$611,100. The trade was a 51.72% decrease in their position. Insiders sold 100,191 shares of company stock worth $1,455,400 in the last quarter. Company insiders own 0.13% of the company's stock.

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.

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