Trican Well Service (TSE:TCW) Given New C$7.25 Price Target at Raymond James Financial

Key Points

• Raymond James raised Trican Well Service’s price target to C$7.25 from C$6.75 while maintaining a “market perform” rating, implying roughly 3% upside from the prior close.
• Analyst sentiment is generally positive: the stock has a consensus “Moderate Buy” rating and an average price target of C$8.29, with ATB Cormack and TD Securities recently issuing more bullish views.
• Trican reported quarterly EPS of C$0.23 on C$338.3 million in revenue, while company insiders purchased 26,000 shares worth approximately C$156,220 over the past 90 days.

Trican Well Service (TSE:TCW - Get Free Report) had its price objective hoisted by Raymond James Financial from C$6.75 to C$7.25 in a note issued to investors on Thursday, BayStreet reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 2.98% from the stock's previous close.

A number of other research firms have also commented on TCW. ATB Cormack raised their price target on Trican Well Service from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research report on Wednesday. TD Securities upgraded Trican Well Service from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$8.29.

Trican Well Service Trading Up 1.0%

TCW traded up C$0.07 during mid-day trading on Thursday, hitting C$7.04. The stock had a trading volume of 817,289 shares, compared to its average volume of 717,844. The stock's fifty day simple moving average is C$6.32 and its 200-day simple moving average is C$6.77. The firm has a market capitalization of C$1.47 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.22 and a beta of -0.29. Trican Well Service has a 1-year low of C$5.19 and a 1-year high of C$8.40. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.77 and a quick ratio of 1.75.

Trican Well Service (TSE:TCW - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported C$0.23 EPS for the quarter. The business had revenue of C$338.30 million for the quarter. Trican Well Service had a return on equity of 12.81% and a net margin of 7.60%.

Insiders Place Their Bets

In other news, Director Thomas Malcolm Alford bought 5,000 shares of the stock in a transaction on Friday, July 31st. The stock was purchased at an average price of C$5.88 per share, for a total transaction of C$29,400.00. Following the acquisition, the director owned 50,000 shares in the company, valued at approximately C$294,000. This trade represents a 11.11% increase in their ownership of the stock. Also, Director Stuart O'connor purchased 20,000 shares of the company's stock in a transaction on Wednesday, September 30th. The stock was purchased at an average cost of C$6.05 per share, for a total transaction of C$121,000.00. Following the purchase, the director directly owned 26,250 shares in the company, valued at approximately C$158,812.50. This trade represents a 320.00% increase in their ownership of the stock. Over the last ninety days, insiders purchased 26,000 shares of company stock valued at $156,220. Company insiders own 0.62% of the company's stock.

Trican Well Service Company Profile

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.

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